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Commodities

Grain Prices Soar Amid Geopolitical Tensions and Supply Risks

Guavy AI Editorial Team
Instruments
Wheat Corn
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Grain prices rallied across major markets on Friday, August 28. Wheat futures saw significant gains, reaching their highest levels in three years due to geopolitical tensions and supply risks from the Black Sea region.

On the Chicago Board of Trade (CBOT), December Soft Red Winter (SRW) wheat futures rose by 3.06% to $288.07 per ton. Kansas City's December Hard Red Winter (HRW) wheat climbed to $310.20 per ton, while Minneapolis spring wheat reached $282.65 per ton.

The disruptions affecting Black Sea exports have added a risk premium to wheat prices. Chicago corn futures also moved higher, albeit with more modest gains. The December contract rose by 0.56% to settle at $211.22 per ton.

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