Wheat Extends Surge as Ukraine Tensions Stoke Supply Concerns
- U.S. has warned Russian invasion of Ukraine could be imminent
- Nations account for nearly a third of wheat and barley exports
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Wheat extended gains after the biggest weekly advance since November as tensions over Ukraine and Russia ratcheted up, increasing concern that grain exports from the two major shippers could be disrupted.
Tensions over Russia’s military buildup near Ukraine have entered a potentially decisive week, with the U.S. warning an invasion may be imminent and President Vladimir Putin accusing America of failing to meet his demands. Russia has repeatedly denied it plans to invade its neighbor, and a diplomatic push to try to resolve the situation is continuing.