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The Ukraine crisis is wreaking havoc on commodities

Posted on 14 March 2014

Tensions in Ukraine have produced extreme volatility across the spectrum of commodities. Wheat prices have seen the greatest surge, up 6% in the past seven days and 24% since hitting a low in January. Ukraine is the sixth-largest wheat exporter in the world. Corn, of which Ukraine is the world’s third-largest exporter, is up 10% over the past 30 days.
“Grain traders are still focusing their attention on developments in Crimea,” Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt, said in a note, per Bloomberg. “In the event of a yes vote, shipment problems could be the result.”……………………………………….Full Article: Source


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VRS - who has written 36521 posts on Opalesque Commodities Briefing.


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