Wheat, Soybeans Hit Fresh Highs Amid Russia-Ukraine Conflict
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Wheat and soybeans led a broad rally of crop futures as traders focus on the political conflict between major grain exporters Russia and Ukraine, as well as drought risks to dwindling South American yields.
Grain and oilseed prices have been on a tear as escalating tensions between Russia and Ukraine spark fears that shipments could be disrupted from the nations. Any upsets to shipments could drive up food costs at a time when prices are already at a decade high.