Ukrainian dam destruction sends global prices of wheat and corn soaring

[mystery-ak]

June 6, 2023 3:45pm EDT
Ukrainian dam destruction sends global prices of wheat and corn soaring
Russia and Ukraine have accused each other of destroying the dam though neither claim has been verified
By Bradford Betz FOXBusiness

The destruction of a major dam in southern Ukraine has sent global prices of corn and wheat soaring, reversing this year’s fall in prices after a major spike caused by Russia’s invasion of Ukraine in February 2022.

In early trading at the Chicago Mercantile Exchange on Tuesday, wheat prices gained 2.4%, to $6.39 a bushel. The cost of corn rose more than 1%, or more than to $6 a bushel, and oats gained 0.73%, or $3.46 per unit.

The destruction of Kakhovka dam and hydroelectric power station, which sits on the Dnieper River in an area that Moscow controls, raised anxiety about potential disruption to global supplies given Ukraine’s position as a major exporter of wheat and corn.

There are massive agricultural fields in Southern Ukraine where the dam burst. The collapse has endangered crops in the country's breadbasket and threatened drinking water supplies, with officials also warning of a looming environmental disaster — pointing to oil escaping from the dam machinery and significant flooding.

The wheat futures rally overnight and early Tuesday lost steam as the day progressed. As of around 1 p.m. ET, for example, the price of wheat was down to $6.28 a bushel.

more
https://www.foxbusiness.com/markets/ukrainian-dam-destruction-sends-global-prices-wheat-corn-soaring

[libertybele]

Get ready for sky high prices, shortages and empty shelves.

We've been sending Z $$$$ so that he could stop Putin. How has that worked out???

[sneakypete]

Get ready for sky high prices, shortages and empty shelves.

We've been sending Z $$$$ so that he could stop Putin. How has that worked out???

@libertybele

Depends on if you are in favor of communist rule.  Which you seem to be fine with. Not to worry,though,you will have all the "liberty" the state thinks you need.

[Idiot]

@libertybele

Depends on if you are in favor of communist rule.  Which you seem to be fine with. Not to worry,though,you will have all the "liberty" the state thinks you need.

How is this OUR war?

[libertybele]

@libertybele

Depends on if you are in favor of communist rule.  Which you seem to be fine with. Not to worry,though,you will have all the "liberty" the state thinks you need.

Quit with the crappola @sneakypete  you know darn well that I am not fine with communist rule.  To say so is a complete insult.

We keep throwing money to Zelenskyy and supposedly it's still not enough.  At some point in time one needs to declare b.s.  As a note and I've stated it many times, this is NOT our war.  It is their war.  A war between Russia and Ukraine that has been ongoing.

[sneakypete]

How is this OUR war?

@Jack Russell

Well,number one,Bubba,"WE" are NOT fighting that war.

Number two,it IS in our best interest to see Russia weakened because it will save us a TON of money that would have had to have been spent if Russia remains under communist control.

[sneakypete]

Quit with the crappola @sneakypete  you know darn well that I am not fine with communist rule.  To say so is a complete insult.

We keep throwing money to Zelenskyy and supposedly it's still not enough.  At some point in time one needs to declare b.s.  As a note and I've stated it many times, this is NOT our war.  It is their war.  A war between Russia and Ukraine that has been ongoing.

@libertybele

You can't POSSIBLY be THAT freaking out of touch with  reality.

Tell me,when did Communism stop being a threat to the US?

[jmyrlefuller]

Our farmers will love this news.

[libertybele]

@libertybele

You can't POSSIBLY be THAT freaking out of touch with  reality.

Tell me,when did Communism stop being a threat to the US?

So tell me, when did I say that Communism wasn't a threat to the US??

[LMAO]

So tell me, when did I say that Communism wasn't a threat to the US??

We bring up the word “straw man” a lot when it comes to his posts. That’s pretty much his only reply. I have never seen anybody who uses more strawman arguments ever in my life that he

[LMAO]

Our farmers will love this news.

Yes, they will

And I suspect they’ll still get their  subsidies

[Fishrrman]

SneakyPete asks:
"Tell me,when did Communism stop being a threat to the US?"

Russia is no longer the U.S.S.R., and those who run it (Putin) are no longer "communists" per se.

Stop fighting the "old cold" war, Pete. There's a new one now, with a new leadership.

It could be in China.
Or... it could be... right here.

One other thought:
Reading the source article, it says the dam lies within Russia-controlled territory.
If so, why would the Russians destroy infrastructure in an area they claimed as their own?

[Kamaji]

SneakyPete asks:
"Tell me,when did Communism stop being a threat to the US?"

Russia is no longer the U.S.S.R., and those who run it (Putin) are no longer "communists" per se.

Stop fighting the "old cold" war, Pete. There's a new one now, with a new leadership.

It could be in China.
Or... it could be... right here.

One other thought:
Reading the source article, it says the dam lies within Russia-controlled territory.
If so, why would the Russians destroy infrastructure in an area they claimed as their own?

Because destroying it provides them with a measure of defense against a Ukrainian attempt to de-occupy Crimea, which is of much more interest to the Russians.

[sneakypete]

So tell me, when did I say that Communism wasn't a threat to the US??

@libertybele

So,you are actually going on record as saying that Communism IS a threat,while whining about the potential destruction of Communism?

[sneakypete]

SneakyPete asks:
"Tell me,when did Communism stop being a threat to the US?"

Russia is no longer the U.S.S.R., and those who run it (Putin) are no longer "communists" per se.

Stop fighting the "old cold" war, Pete. There's a new one now, with a new leadership.

It could be in China.
Or... it could be... right here.

@Fishrrman

Paint a old Buick fire engine red,and it is still a Buick,not  a fire engine.

One other thought:
Reading the source article, it says the dam lies within Russia-controlled territory.
If so, why would the Russians destroy infrastructure in an area they claimed as their own?

Beats me. I don't know where most of those places are located.

I also realize that there is a war going on over there,and even though Communism is built on lies,the lies seem to get bigger and bigger when they are getting their asses handed to them.

Not that this would be any different if it were US officers losing a war they started.

[libertybele]

@libertybele

So,you are actually going on record as saying that Communism IS a threat,while whining about the potential destruction of Communism?

??? I don't have a clue as to why your coming up with these accusations???

I'm going on the record as saying that Communism is a very real threat and defeating Communism would be a wonderful thing.

[sneakypete]

??? I don't have a clue as to why your coming up with these accusations???

I'm going on the record as saying that Communism is a very real threat and defeating Communism would be a wonderful thing.

@libertybele

I can't argue with that!