Wheat prices fluctuated after reaching a two-year high on Black Sea supply risks. Traders weighed these concerns against weak United States export data released recently. Russia and Ukraine's grain export corridor attacks threaten global food supplies significantly.

Ukraine has lost about a third of its grain export capacity via Black Sea ports. The current market reaction is likely to be more limited than in 2022.

Wheat prices fluctuated after reaching a two-year high on Black Sea supply risks. Traders weighed these concerns against weak United States export data released recently. Russia…