Chicago Wheat Surges by Exchange Limits as Attack Risks Supplies

Grain markets catapulted even higher as Russia’s attack on Ukraine put a vital source of global supplies at risk.

Wheat surged by the maximum allowed by the exchange, and corn earlier did the same before paring gains. Milling wheat traded in Paris soared as much as 16% to a record, heightening concerns of a further acceleration in global food inflation.

Russia launched a barrage of missile, artillery and air attacks early Thursday, triggering the worst security crisis Europe has witnessed in decades. Ukrainian sea ports closed, according to the presidential office, throwing commodity exports into chaos. Top wheat ...