Commodities
Wheat Futures Skyrocket as Ukraine Conflict Disrupts Black Sea Exports
US wheat futures have reached three-year highs due to concerns over disruptions to Black Sea exports caused by the ongoing Russia-Ukraine war.
The conflict has led to a halt in grain shipments from Ukraine, with CBOT wheat contracts rising by their daily limit of $0.45 per bushel on August 27th.
Investors are worried that further attacks on infrastructure could severely impact global food supplies and lead to price increases in the future.