Ukraine war: Wheat prices soar after Russia threatens ships

Wheat prices have risen sharply on global markets after Russia said it would treat ships heading for Ukrainian ports as potential military targets.

Moscow pulled out of a UN deal on Monday that ensured safe passage for grain shipments crossing the Black Sea.

For the past three nights Russia has bombarded Ukraine's grain facilities in Odesa and other cities.

Moscow also warned that from Thursday any ships going there would be seen as siding with "the Kyiv regime".

White House spokesman Adam Hodge suggested Russia was planning to hit civilian ships and blame Ukraine.

Russia had laid more sea mines in the approaches to Ukrainian ports, he said, as part of a co-ordinated Russian effort to justify attacking civilian ships.

The Kremlin did not immediately respond to the allegation.

Wheat prices on the European stock exchange soared by 8.2% on Wednesday from the previous day, to €253.75 (£220; $284) per tonne, while corn prices were up 5.4%.