The price of a bushel of wheat topped $10 for the first time in more than a decade as investors began to weigh up concerns over shortage from the war between...
The price of a bushel of wheat surged to levels not seen in more than a decade on Wednesday as investors anxiety surrounding potential supply shortages from the conflict between Russia and Ukraine stretched to its seventh day.
“Both... The price of a bushel of wheat surged to levels not seen in more than a decade on Wednesday as investors anxiety surrounding potential supply shortages from the conflict between Russia and Ukraine stretched to its seventh day. “Both Ukraine and Russia are large producers of wheat, together accounting for around 30% of the world’s wheat exports, so this is one of the channels where the direct economic impact is acute,” said strategists at Deutsche Bank led by Jim Reid, in a note to clients.
He added that the Ukraine war may make it difficult to plant spring grains, reducing next season’s supply and sufficient alternative suppliers would be hard to find.
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