JP Morgan Reports Wheat and Corn Prices to Rise

Ears of wheat are seen in a field near the village of Hrebeni in Kyiv region, Ukraine July 17, 2020. Valentyn Ogirenko | Reuters

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Wheat prices soar to highest since 2008 on potential Russia supply hit
  • The grain traded “limit up” during the day, meaning to the highest amount the price of a commodity is allowed to increase in a single day.
  • Russia is the largest exporter of wheat and Ukraine is among the four biggest exporters of the commodity, according to JPMorgan.
  • Of the 207 million ton international wheat trade, 17% comes from Russia and 12% comes from Ukraine, according to Bank of America.
  • “Wheat and corn are the most exposed agricultural markets to any potential escalation in tensions”

Read the original article by clicking here.

Leave a Reply