Chicago wheat rose for a fourth straight session Thursday to hit a 14-year high, as damage to Ukraine¡¯s export infrastructure following Russia¡¯s invasion raised concerns over longer-term disruptions to supply from the Black Sea region.
Russia¡¯s invasion of Ukraine could devastate global grain markets so deeply that it¡¯s likely to be the biggest supply shock in living memory.
That¡¯s according to Scott Irwin, an agricultural economist at the University of Illinois. Tens of millions of acres of grain production are at stake, he wrote Wednesday on Twitter.
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