Wheat and corn prices limit up trading Friday

[HJCane]

Expect huge food price inflation to follow. Larger than we have been experiencing along with shortages.

Wheat prices trade 'limit up' again, hit highest in nearly 14 years as Russia-Ukraine conflict continues

War between major exporters Russia and Ukraine continued to raise concerns about the global supply of the commodity.

www.cnbc.com

This affects much more than human food consumption. It affects livestock prices as well because they have to eat too.

 

[HJCane]

The Democrats will of course blame Putin and that certainly made things worse but look at the charts prices started rising in late 19 early 2020 long before Putin.

Chicago Wheat Sets Record High, as Markets Sort Out Supply Concerns - Farm Policy News

Nabih Bulos, Laura King, and Henry Chu reported on the front page of today's Los Angeles Times that, "A dozen days into a devastating war and a burgeoning refugee crisis, Russian forces on Monday launched withering new attacks on civilian areas and strategic centers in Ukraine, seeking to...

farmpolicynews.illinois.edu

 

[HJCane]

$12.94 per bushel ton for years price was around $4-$5 per bushel.

 

[HJCane]

Corn , soybeans, wheat.
People will starve over this.

Corn Prices Climb Nearly 50% in 2021, as U.S. Food Makers Contend with Labor and Ingredient Shortages - Farm Policy News

Wall Street Journal writers Ryan Dezember and Kirk Maltais reported on Monday that, "America’s biggest cash crop has rarely been more expensive. Corn prices have risen roughly 50% in 2021 and a bushel costs more than twice what it did a year ago."

farmpolicynews.illinois.edu

 

[central17]

The spring grain harvest in the Ukraine and parts of Russian can be considered lost. The prices are rising on that expectation. When the reality hits in a couple months it is only going to get worse. Far worse!

 

[HJCane]

The spring grain harvest in the Ukraine and parts of Russian can be considered lost. The prices are rising on that expectation. When the reality hits in a couple months it is only going to get worse. Far worse!

It is true the invasion caused "another" spike but look at the charts prior to the invasion.

 

[zeski78]

I own a bread route. We’ve taken two price increases since September. We are taking another in June. 2/3 of the worlds wheat comes from Russia and Canada

 

[central17]

It is true the invasion caused "another" spike but look at the charts prior to the invasion.

You are correct! The prices have risen since Biden policies went into affect. Like just about everything. Just a lot more fuel to the fire.

 

[lyndiola]

In 2020 here are the top wheat producers in tons

1. China — 134,254,710
2. India — 107,590,000
3. Russia — 85,896,326
4. United States — 49,690,680
5. Canada — 35,183,000
6. France — 30,144,110
7. Pakistan — 25,247,511
8. Ukraine — 24,912,350
9. Germany — 22,172,100
10. Turkey — 20,500,000