Export prices rise to record level as volatility persists Wheat futures on CBOT settle at highest level since 2008 Uncertainties deter importers from buying Black Sea wheat Wheat futures prices rallied on March 1 as market participants were concerned over the potential disruption to the global wheat supply as Russia’s invasion of Ukraine stranded shipments. w
At 0322 GMT on March 2, the May soft red winter wheat contract on the Chicago Board of Trade gained 24 cents to cross the $10.08/bushel. On the Minneapolis Grains Exchange, too, the March spring wheat futures contract rose 65 cents to $10.54/bu. On March 1, the CBOT May contract of soft red winter wheat settled at $9.84/bu, the highest level since 2008. Russia and Ukraine’s combined wheat exports for the 2021-22 marketing year are estimated to account for […]