Russia exports more wheat than any other country.
“CBOT traders are starting to understand that the Ukraine war will be extended, and even if Russia is able to capture Ukraine in the coming weeks, the world will not allow Russian/Ukraine grain [or] energy to be sold,”
Russia and Ukraine account for about 29% of global wheat exports.
Yesterday Wheat trading was halted.
‘The grain traded “limit up” during the day, meaning to the highest amount the price of a commodity is allowed to increase in a single day.”
Check out this wheat chart.
Has just spiked 25%
Live trading of wheat
This will add to the already bad runaway inflation problem…..
The United States imports wheat as well
h/t Flying Poptart