Russia and Ukraine together accounted for nearly 29% of global wheat exports last year.
from the Guardian – Prices of oil, coal, aluminum, wheat and other commodities continue to rise as Russia’s invasion of Ukraine raised supply concerns. Brent crude, a global benchmark, rose by $118 a barrel for the first time since February 2013. It is currently hovering around $117 a barrel, up $4 from today. US light sweet crude is trading at $114.46 a barrel.
Aluminum set another record, rising 2.3% to $3,650 on the London Metal Exchange (which has gained 30% so far this year), while nickel rose more than 4% to $26,935 a ton. Russia is a major producer of both minerals.
As for grain, Russia and Ukraine together are estimated to account for nearly 29% of global wheat exports last year, according to the US Department of Agriculture, and thus the conflict has driven up global wheat prices.
Chicago wheat futures rose to a 14-year high of $11.34 a bushel and are up nearly 40% this month.
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Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.