“Wheat prices soar for a third day as Russia-Ukraine tensions stoke fears of major food crisis”
July 20, 2023
“Wheat prices rose on Thursday after Russia threatened to treat ships heading for Ukrainian ports as military cargo carriers, deepening fears of a global food security crisis.
It marks the third consecutive day of price rises. The most actively traded wheat contract on the Chicago Board of Trade was last seen trading around 1.4% higher at 737.6 cents per bushel, notching a three-week high.
It follows a jump of 8.5% in the previous session, the biggest daily gain in more than a year, on mounting geopolitical tensions. Wheat prices remain well below the peak levels of 1,177.5 cents per bushel reached in May of last year, however…”