Ears of wheat are seen in a field near the village of Hrebeni in Kyiv region, Ukraine July 17, 2020.
Valentyn Ogirenko | Reuters
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Wheat prices soar to highest since 2008 on potential Russia supply hit
- The grain traded “limit up” during the day, meaning to the highest amount the price of a commodity is allowed to increase in a single day.
- Russia is the largest exporter of wheat and Ukraine is among the four biggest exporters of the commodity, according to JPMorgan.
- Of the 207 million ton international wheat trade, 17% comes from Russia and 12% comes from Ukraine, according to Bank of America.
- “Wheat and corn are the most exposed agricultural markets to any potential escalation in tensions”
Read the original article by clicking here.
