Shafaq News/ Chicago wheat jumped almost 7% on Monday, the market's biggest single-day rally in 10 years, as Russia's invasion of Ukraine has curbed supplies from one of the world's biggest exporting regions.

Corn gained more than 3% while soybeans rose 2.4%.

The most-active wheat contract on the Chicago Board of Trade (CBOT) was up 6.8% at $19.18-1/4 a bushel, as of 0125 GMT, after climbing earlier in the session 8% to $9.35 a bushel.

Corn rose 3.2% to %6.77 a bushel and soybeans added 2.4% to $16.23 a bushel.

Russian exports of all commodities from oil and metals to grains will be severely disrupted by fresh Western sanctions, dealing a blow to Russia's economy and hurting the West with a spike in prices and inflation, traders and analysts said.

Grain exporters are looking for alternative sources of wheat and corn as a Russian invasion cuts off Ukrainian supplies, with European Union producers Romania and France being used to cover some nearby loadings, traders said on Friday.

The two countries account for around 29% of global wheat exports, 19% of world corn supplies, and 80% of world sunflower oil exports.

Ukraine has asked the International Monetary Fund for emergency financing, IMF managing director Kristalina Georgieva said on Friday, adding that the IMF was exploring all options to aid the war-torn country, including under its existing IMF loan program.

Large speculators raised their net long position in CBOT corn futures in the week to Feb. 22, regulatory data released on Friday showed.