The week started with a sharp rally for wheat futures prices following a weekend of military action between Russia and Ukraine. Ukraine seaborne drone attacks on Russian commercial shipping, including a tanker near the Crimean, caused renewed wheat supply fears. Russia is currently shipping between 3.5 to 4.5 million tonnes of wheat each month, with approximately 70% of this total coming from its Black Sea ports. Any tangible disruption to sea freight will have a positive impact on prices, especially if importers are forced to seek supplies from alternative sources such as the EU or the US.
During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo
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