Wheat Mounts Historic Week as War Sparks Deepening Supply Fears
- Futures in Chicago jump by the maximum exchange limit
- Scorching gains piling pressure on global food inflation
This week will go down in wheat-trading history.
Chicago futures for the grain have soared more than 40% -- the most ever -- as Russia’s war in Ukraine upends global grain supplies. That puts prices at a 14-year high, and milling wheat in Paris reached an unprecedented 400 euros ($438 per ton).