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Benchmark global wheat prices lifted 6% on Monday in a knee-jerk reaction to news from the weekend that Putin was withdrawing from the safe Black Sea corridor agreement. Consequently, insurers refused to grant fresh cover for vessels that were returning to Ukraine which caused concern for the 22 boats anchored in Ukrainian ports waiting to be loaded - a further 101 are awaiting inspection. London futures rallied from £12 to a high of £293, which ignited UK farmers to market large volumes at prices not seen for a month.
You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell.