Frontrunner - 14th April 2022

New crop European wheat futures rallied further this week and set new contract highs, reflecting trade concerns around the prospect of a long-term conflict between Ukraine and Russia. London November 2022 wheat futures briefly touched £295/t, almost double its initial trades and the contract low made in September 2020. The extent of the loss of Ukraine as one of the world’s major grain exporters was highlighted by comments from a Ukrainian official, who said corn exports this season would be 17 million tonnes. 

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