Nearby Wheat Futures Hit Three-Week High After Destruction of Ukrainian Dam
Nearby wheat futures on the Chicago Mercantile Exchange gained over 3% following the destruction of the Russian-controlled Nova Kakhovka dam in southern Ukraine Tuesday morning.
July wheat was trading 20 cents higher at $6.43 ¾ a bushel as of this writing, the highest level since May 16. The latest attack raised additional concerns over global supplies and export capabilities from key grain producers Ukraine and Russia.
The Nova Kakhovka dam spanned the Dnipro River and supplied water to the Crimean Peninsula along...
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