Archive for February 24th, 2022

KANSAS CITY, MISSOURI, US — Many agricultural futures have soared to contract highs, with some trading to nine-year highs on Feb. 23, amid fears of market disruption as Russia appeared hellbent on invading Ukraine.

Excluding the combined countries of the European Union, Russia is the world’s single largest wheat exporter and Ukraine is two notches lower just behind Australia. The United States comes in fourth after Ukraine. Combined, Russia and Ukraine are expected to account for nearly 30% of global wheat ...

BEIJING, CHINA — China’s customs agency on Feb. 24 approved imports of wheat from all regions of Russia, the Associated Press reported.

This move gives Russian President Vladmir Putin an alternative to Western markets that might be closed under sanctions.

Russia, one of the largest wheat producers, has not exported to China before now due to concern about possible fungus and other contamination, the AP said.

On Thursday, China’s customs agency approved imports of wheat from all regions of Russia, giving Putin an ...