Higher wheat prices due to threat of war

The worsening situation in the conflict between Russia and Ukraine is fuelling the upward price movement in the futures market in Chicago and Paris. The first-expiring wheat contract on the Chicago futures market rose 6% on Tuesday, Feb. 22 from the previous trading day. On Monday, February 21, US markets were closed in observance of President’s Day. The corn quotation (May 2022) rose by 3% in Chicago. More corn has been sold from the United States than previously expected. Far-reaching