here we are again,.. WEAT $7.38
https://tradingeconomics.com/commodity/wheatLook at that price climb.
I can't speculate on how much futher this will go, I can't see it going to the high when the rus/ukr war started.
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Quote
Russia reportedly launched a drone attack on a Ukrainian port along the Danube River. It comes after Russia backed out of a deal that allowed Ukraine to ship its wheat via the Black Sea.
https://finance.yahoo.com/video/russia-reportedly-attacks-port-danube-162709705.htmlAnother news article
"UN chief urges Russia to revive grain deal with Ukraine, warning ‘the most vulnerable’ will suffer"
Yes, This is profitting off the suffering of people.
Quote
A top U.S. Treasury official will highlight Washington's efforts to facilitate Russian grain and fertilizer exports during a visit to Kenya and Somalia and stress that Moscow's exit from the Black Sea grain deal will hurt African states, a spokesperson said on Monday.
https://www.reuters.com/world/senior-us-treasury-official-raise-russia-grain-deal-travel-kenya-somalia-2023-07-24/""He will highlight the exemptions in U.S. sanctions that have always allowed the continued flow of food and agriculture transactions,""
I highlight these news articles to prove a point. Without grain from the ukr/ru region Africa would fall on hard times.
This is why I think there is still a play on wheat to make some profit.
In the long, long run, talking 10 years+ Wheat will be worth more than it is now, simply due to population on earth.
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I need to say this because my topic is dangerous close to another forum section.
The Links provided to news articles are to prove the opportunity of capitlizing on wheat. World events influence the markets and these are some big events that have had global impact. "Make Hay While the Sun Shines", or in this case wheat profits.