The turmoil in the global wheat market has abated somewhat, with traders seeking more clarity on supplies from the crucial Black Sea region as Russia's war in Ukraine rages on. Then, it'll be a question of freight and insurance costs, and navigating the complexity of sweeping sanctions imposed on Russia by a raft of nations. Still, sowing is unable to start in many key regions and supply-chain disruptions will hamper planting and yields, it said. "Domestic prices in Russia are likely to surge substantially during next week reflecting devaluation of the ruble. The threat of massive supply disruptions drove wheat prices to an all-time high of $13.63 1/2 a bushel a week ago.

Source: Irish Independent March 15, 2022 19:42 UTC