After pulling back from the prices quoted in the story, wheat is now even higher:
Limit up (75.00) at 1059.00 +7.62%.
From Reuters via Hellenic Shipping News, March 2:
Chicago wheat jumped almost 3% on Wednesday as the market continued its bull run, climbing to the highest since 2008 on concerns over prolonged supply disruptions following Russia’s invasion of its rival grain exporter Ukraine.
Corn eased after rising to its highest since May and soybeans fell for the first time in three sessions.
“There are no buyers or sellers in the Asian market as no one is sure for how long this war will last,” said one Singapore-based grains trader. “International prices are shooting through the roof.”
The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 2.5% to $10.08-1/2 by 0324 GMT, having earlier hit its highest since March 2008 at $10.23 a bushel.
Corn slid 0.5% to $7.21-3/4 a bushel, after rising to its highest since May earlier in the session, while soybeans gave up 1.6% to $16.62-3/4 a bushel.
Global wheat, corn and sunflower oil importers are likely to seek alternative shipments as the conflict between key suppliers Russia and Ukraine curbs supplies....
....MORE
