| 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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