Wheat futures rallied by nearly 8% on Wednesday and are poised to settle at the highest in three weeks, with tensions between Russia and Ukraine rising the...
Wheat futures rallied by nearly 8% on Wednesday and are poised to settle at the highest in three weeks, with tensions between Russia and Ukraine rising the wake of Moscow’s suspension of the Black Sea grain deal.
Russia has bombed an Odessa port in Ukraine for the last two days, and Ukraine bombed the Russia-Crimea Bridge “to start this latest escalation off a couple of days ago,” Jack Scoville, vice president of The Price Futures Group and writer of the Grains and Softs Report, told MarketWatch in an email. “The war is escalating — making any attempts to get Russia involved in a Black Sea grain deal again more and more remote.
“It’s amazing how quickly the situation can change,” said Darin Newsom, Barchart senior market analyst, adding that news of Russia’s suspension of the grain deal on Monday didn’t immediately lead to a huge change in market sentiment. Still, “fundamentally, the situation hasn’t changed,” at least based on the “carry” in Chicago futures spreads, he said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Opposing U.S. involvement in the Ukraine-Russia war doesn’t make you automatically pro-RussiaOver the last seventeen months, it’s become customary for those who disagree with US foreign policy on the Ukraine war to preface every objection to that policy with at least one, possibly t…
Leer más »
Russia halts wartime deal allowing Ukraine to export grain at time of growing hungerThe war in Ukraine sent food commodity prices surging to record highs last year and contributed to a global food crisis.
Leer más »
Russia blames Ukraine for strike on key Crimea bridgeThe Kerch Bridge is a conspicuous symbol of Moscow’s claims on Crimea and an essential land link to the peninsula, which Russia illegally annexed in 2014. The $3.6 billion bridge is the longe…
Leer más »
Why Russia is suspending the Black Sea grain deal with UkraineRussia announced on Monday that it was suspending a crucial deal that allows grain to be exported from Ukraine to countries in Africa and the Middle East.
Leer más »