All Three Wheat Contracts Post New Contract Highs May 17, 2022
Wheat futures continued their superstar run with new contract highs for July Chicago, July KC and July Minneapolis. All three markets are priced past that initial Russian invasion price spike. That price spike was made on the initial reaction that the Ukraine war would lead to zero exports of both Ukraine and also Russian product. The trade is concerned India and France may not help fill the Ukraine export deficit. They are also pricing in the idea the US may in some way contribute to it.
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