It became known how the grain markets reacted to yesterday's statements by Putin.
Trade, investment
Due to fears of black sea grain supply disruptions, wheat futures in Chicago rose more than 2%, while corn rose to its highest level in 7 months. Reported by Succsessful Farming based on data from Reuters.
“Yesterday, the situation between Russia and Ukraine became even more serious. This issue will now dominate the direction of trade,” said one Singaporean grain trader.
Thus, the most active wheat contract on the Chicago Board of Trade (CBOT) rose 2% to $8.20/bushel as of 01:52 GMT after reaching its highest level since Jan. 25 at $8.27/bushel. And corn rose 1.5% to $6.64/bushel, the highest level since June.
Traders say the wheat market is buoyed by tensions between escalated top exporters Russia and Ukraine as Russian President Vladimir Putin ordered troops to be deployed to regions of eastern Ukraine.