Wheat Rises after Russia Exits Ukrainian Grain Deal

Wheat Futures (/ZW) rose a second consecutive trading session today amid Russia exiting a year old deal allowing Ukrainian grain to pass through Black Sea ports. In addition, Russia sent retaliation strikes to the Odesa region damaging grain ports from Ukrainian drones strikes on a Crimean bridge.

Farmers and market participants fear supply issues as Russian/Ukraine are leading producers/exporters of grain in that region and the world. We could see further appreciation past $710ish levels leading into $750ish levels this month as turmoil looms in that region. Let's see how the 🎲 roll.

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