Chicago wheat rose for a fourth straight session Thursday to hit a 14-year high, as damage to Ukraine's export infrastructure following Russia's invasion raised concerns over longer-term disruptions to supply from the Black Sea region.
Russia’s invasion of Ukraine could devastate global grain markets so deeply that it’s likely to be the biggest supply shock in living memory.
That’s according to Scott Irwin, an agricultural economist at the University of Illinois. Tens of millions of acres of grain production are at stake, he wrote Wednesday on Twitter.