The wheat complex has featured significant price movement to the upside in recent days, and world events are driving most of the gains in the marketplace. That’s according to Jim McCormick, co-founder of AgMarket.net, who says that recent developments in the Russia-Ukraine war have led to substantial gains for the wheat prices.
McCormick says that the war has entered a new stage where Ukraine is now hindering Russia’s ability to ship grain.
Corn and soybeans have also seen modest gains alongside wheat in recent days but McCormick says that weather continues to be a more significant factor for those markets.
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