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Rice Soars as Ukraine War Starts Scramble for Any and All Grains

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Be Overweight on Commodities to Hedge Volatility Risk: Tay

Rice is the latest commodity to get swept up in the turmoil of Russia’s invasion of Ukraine.

Prices for rice are surging because traders are betting it will be an alternative for wheat, which is becoming prohibitively expensive. Exports of wheat from Russia and Ukraine account for more than a quarter of the crop’s trade worldwide and a fifth of corn sales. Shipping in the Black Sea region is already engulfed in chaos.