re: #67 Love-Child of Cassandra and Sisyphus

Jul22 wheat futures seem to be bouncing in a range, after the rapid March price jump (which is how the market adjusted for the invasion):

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Just before the invasion, the USDA predicted US wheat planting would be up and that would drive down prices:
uswheat.org

That article was printed just after the invasion.

The wheat market is ‘interesting’ right now. Basically, there is so much uncertainty, that traders don’t want to enter into any futures transactions and be on the hook for stuff they can’t deliver or that won’t be available. It’s not just the blockade of Ukraine, but that a lot of countries are refusing to accept Russian grain ships, many shipping companies don’t want anything to do with Russian products, and insurance companies don’t want to insure vessels with Russian products/commodities. This will really be felt in developing countries.