Wheat prices have risen sharply

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Wheat futures rose 5% after Russia's massive missile strike on Ukraine.

The situation has raised fears that the escalating war poses a new threat to grain exports from the Black Sea.

Any slowdown in agricultural exports from Ukraine could result in higher prices for the world's staples, whose prices have been declining recently.

Wheat futures in Chicago rose to $9.24/bushel, showing the biggest gain this month.


Problems with delivery of Ukrainian crops have already emerged as the number of vessels waiting for inspection in Istanbul increases.

At the same time, in the Ukrainian ports the prices for the wheat 2 class remain in a stable range. On average, the cost is 6.7 thousand UAH / t. Corn has fallen in price by 150 UAH / t to 7.6 thousand UAH / t since yesterday.


PigUA.info by bloomberg.com