{"id":37837,"date":"2023-07-19T16:14:00","date_gmt":"2023-07-19T20:14:00","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/wheat-prices-surge-on-reports-60000-tons-destroyed-in-russia-missile-attack\/"},"modified":"2023-07-19T16:14:02","modified_gmt":"2023-07-19T20:14:02","slug":"wheat-prices-surge-on-reports-60000-tons-destroyed-in-russia-missile-attack","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37837","title":{"rendered":"Wheat Prices Surge on Reports 60,000 Tons Destroyed in Russia Missile Attack"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000696926\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Wheat prices were surging on reports that 60,000 tons of grain were destroyed in a Russian missile attack on Odesa Oblast.<\/p>\n<p>Wheat futures surged 7.8%, their largest gain since Feb. 28, 2022, after Ukrainian Agriculture Minister Mykola Solsky put a number to how much wheat had been destroyed in Russian attacks, according to reports from the Kyiv Independent. <\/p>\n<div class=\"paywall\">\n<p>The gains come as wheat prices were already getting a lift from Russia\u2019s decision to pull out of a deal that allowed Ukraine to export grain. Wheat prices had already risen 5.5% since July 13 as markets started to price in the potential impact.<\/p>\n<p>But losing actual wheat is far different than the potential impact of an ended deal. The markets have shown a remarkable ability to adjust to restrictions on Russian oil, and likely would have found a way to get Ukraine wheat to end markets. But destroyed wheat can\u2019t be replaced. Higher wheat prices could ultimately translate into higher food prices, and cause inflation to rise\u2026<\/p>\n<p>\u2026just as markets are expecting it to come under control. <\/p>\n<p>Write to Ben Levisohn at ben.levisohn@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/wheat-prices-russia-ukraine-10de96f2?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wheat prices were surging on reports that 60,000 tons of grain were destroyed in a Russian missile attack on Odesa Oblast. Wheat futures surged 7.8%, their largest gain since Feb. 28, 2022, after Ukrainian Agriculture Minister Mykola Solsky put a number to how much wheat had been destroyed in Russian attacks, according to reports from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-37837","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wheat Prices Surge on Reports 60,000 Tons Destroyed in Russia Missile Attack | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Wheat prices were surging on reports that 60,000 tons of grain were destroyed in a Russian missile attack on Odesa Oblast. Wheat futures surged 7.8%,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=37837\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wheat Prices Surge on Reports 60,000 Tons Destroyed in Russia Missile Attack | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Wheat prices were surging on reports that 60,000 tons of grain were destroyed in a Russian missile attack on Odesa Oblast. 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