Russia's Azov Sea Grain Corridor Remains Restricted on Monday as Wheat Futures Spike 4%

According to Reuters and three industry sources, the Azov Sea shipping lane remained restricted on Monday as Russian grain exports faced limits due to security concerns. Ukraine's earlier attacks on tankers and commercial vessels in the region prompted Moscow to implement restrictions, which took effect Friday and directly drove wheat futures on Euronext up 4% to a six-week high. The Azov Sea carries approximately one-quarter of Russia's grain exports. Russia is the world's largest wheat exporter and a major sunflower oil supplier.
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