JUNE 7, 2022 CAP ALLON
WHEAT FUTURES SURGE AFTER RUSSIA STRIKES UKRAINIAN GRAIN TERMINAL
From bad to worse: Global grain markets surged higher Monday after a Russian attack on silos at the Black Sea port of Mykolaiv raised further doubts that Moscow will allow the export of Ukrainian crops.
“Traders are losing confidence Russia will live up to their expectations to allow Ukraine to export grain, after two warehouses with sunflower meal at Nikatera (Ukraine) were hit by a rocket over the weekend,” Terry Reilly, senior grain and oilseed commodity analyst at Futures International, told Agricensus.
The Russian shelling of Mykolaiv is “putting the lie to the Russians about allowing grain to be exported out of Ukraine through the Black Sea — if you don’t have a loading terminal, you can’t load any ships,” said Charlie Sernatinger of ED&F Man.
https://electroverse.net/wheat-futures-surge-after-russia-strikes-ukrainian-grain-terminal-summer-cold-sweeps-east-asia-recession-and-paradigm-shi/
