Grains Surge With Tensions Over Ukraine Stoking Supply Concerns
- Wheat option costs jump on rising concerns about trade flow
- Russia, Ukraine account for more than 25% of wheat shipments
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Wheat surged as mounting tensions over Ukraine stoked concern about the outlook for grain shipments from Eastern Europe.
Futures in Chicago climbed as much as 4.4% while contracts tied to corn and soybeans also rose in Chicago as the U.S. said intelligence indicates Russia may attack Ukraine before the Olympics end on Feb. 20. Moscow has said it has no intention of invading.