Chicago wheat futures climbed 2.6% to $6.95-3/4 a bushel by 1355 GMT, reaching levels not seen in nearly two years.
The sharp advance was driven by reports of renewed attacks on Black Sea ports, which have disrupted critical grain export routes and heightened concerns over global supply stability.
The price surge reflects immediate market repricing of shipping risk and geopolitical pressure on trade corridors.
Traders are factoring in the potential for prolonged disruption to Ukrainian grain exports, which remain a vital component of global wheat supplies.
The move underscores the vulnerability of agricultural commodities to conflict in key transit zones.
This development adds to broader volatility in the grain complex.