Wheat futures are on track for their biggest weekly rise since at least 1959 as Russia's invasion of Ukraine crimps exports of the crucial grain.
Wheat futures have surged by nearly a third over the past four days, on track for the biggest weekly rise since at least 1959 as Russia’s invasion of Ukraine crimps exports of the crucial food grain and stokes fears of food inflation.
Corn futures C00 have jumped nearly 16% this week and soybean futures have been dragged up more than 6%. Soaring commodity prices will stoke inflation already running at a nearly 40-year high in the U.S., while threatening the outlook for growth.
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