Volatility Hits Wheat Futures as Ukraine-Russia Conflict Continues
Wheat futures are experiencing volatility as traders weigh the impact of ongoing disruptions to Black Sea grain exports against diplomatic efforts aimed at ending the Russia-Ukraine war.
The most-active contract traded around $7.39 a bushel after reaching a 3½-year high of $7.95 last week, following reports of a Ukrainian strike on a Russian port that renewed concerns about disruptions to one of the world's most important grain-export regions.
Farmers from 13 states gathered for a 'Fed Up' fertilizer hearing, pressing federal officials over rising fertilizer costs and market competition.
The hearing focused on major fertilizer companies like Mosaic, Nutrien, CF Industries, and Koch, with organizers pointing out that fertilizer prices have doubled or tripled since 2020 while the companies have generated more than $20 billion in profits for shareholders over the past five years.