Wheat prices rose by 20% amid increased shelling of Ukrainian cities by Russians
Russian troops lost more than 9,000 soldiers and a significant amount of equipment as a result of the tough resistance of the armed forces of Ukraine, so they stepped up shelling of residential areas of peaceful cities. The number of dead civilians, according to various estimates, ranges from 1,000 to 2,000 people.
Yesterday's talks ended in nothing, as Russia insists on its terms of complete surrender of Ukraine, but this is impossible. All 40 million Ukrainians who united to defend their country from New fascists who hate everything Ukrainian came out to fight against the Russians.
Yesterday, in a conversation with Macron, Putin reiterated that he needs all of Ukraine, so he is not going to negotiate or withdraw troops, but will continue this senseless war.
The global wheat market is reacting violently to the war in Ukraine, which has led to a halt in supplies from the Black Sea region. March wheat futures in Chicago rose 20% yesterday, updating the historical record of March 2008.
Speculative price increases continue as traders understand that the conflict will be protracted, and Russian exports will be stopped by sanctions and swift shutdowns .
May futures rose yesterday:
- by 7% or 2 27.56 / ton to 4 416.7 / ton for soft winter SRW wheat in Chicago,
- by 7% or 2 27.56 / ton to 4 422.6 / ton for hard winter HRW wheat in Kansas City,
- by 5.7% or 2 22.05 / ton to 4 410.9 / ton for hrs durum wheat in Minneapolis,
- March Black Sea wheat futures in Chicago rose 2.6% or.10.25/ton to Чикаго 399.5/ton.
- by 20.75 €/ton to 381.75 €/ton or 420.9 бере/ton March European wheat futures on Paris Euronext (+39% in two weeks).
During February 18-24, wheat export sales from the United States fell by 42% to 300 thousand tons, while actual exports amounted to only 365 thousand tons. since the beginning of the season, 14.15 million tons of wheat have been exported out of 18.28 million tons sold.
