World wheat prices jumped nearly 5 percent. The price of December futures rose more than 4.8 percent during the day on Monday, Oct. 10, according to data from the Chicago Mercantile Exchange.

Wheat rose to $9.1925 a bushel, the biggest increase since the beginning of the month. Overall, prices are up 19 percent this year. Corn and soybeans also rose more than 1 percent.

Prices are rising amid concerns about grain shipments from Russia and Ukraine via the Black Sea, Bloomberg said.

As the agency noted, the escalating conflict raises questions about whether both sides will agree to extend a grain-export agreement from Ukraine that expires in about a month. Any slowdown in its sales abroad will lead to higher prices of basic foodstuffs around the world, Bloomberg added.