Wheat prices rose this week to a two-month high amid fears that the planting and harvest season in Ukraine is under threat, several media outlets reported, citing traders.

March futures contracts for wheat on the Chicago Mercantile Exchange closed on Monday at over $8.0075 a bushel, the highest level since Nov. 23.

Prices declined slightly in trading today, Tuesday, but are still at high levels.

Wheat prices jumped last Friday, and analysts attributed the rise to fears that an escalation in the conflict in Ukraine would jeopardize supplies from the Black Sea, which were already a third lower than the previous season.

Source: agencies

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Robin Jackson is the editor-in-chief at 24PalNews. As an editor and author who covers business and finance, Robin shares the latest business news, trends, and insights with his extensive audience.

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