At the end of the chain, will the price of the baguette also soar?

Wheat prices indeed rose to their highest since 2008 in Chicago on Thursday.

It must be said that the beginning of the invasion of Ukraine by Russia raises fears for the exports of this cereal, of which the two countries are major producers.

"There are fears of disruptions in exports as Ukraine and Russia together make up some 28% of global wheat exports," Dewey Strickler said.

“It could create some problems,” he added.

According to him, the first countries affected by these upheavals would be those of North Africa to which Ukraine sells a lot of wheat.

Corn on the same trend

The price of wheat traded in Chicago, at its highest in 14 years, took another more than 5% on Thursday, after having garnered nearly 3% the day before and more than 6% the previous session during the rise in tensions between Moscow, Kiev and the West.

Corn, of which Ukraine is also a producer, followed the upward trend.

Ukraine exports about 16% of the global corn volume and Russia 2%, according to the analyst.

Soybeans which, the day before, reached a peak since 2012 in a context of inflation of raw materials and drought in Latin America, on the other hand retracted slightly on Thursday.

Operators are watching for a report from the National Supply Company (Conab) on the state of the harvest in Brazil, a major oilseed producing country which has suffered with persistent drought in the south of the country.

A bushel of wheat (about 27 kg) for delivery in May 2022 ended up 5.65% at 9.3475 dollars against 8.8475 dollars on Wednesday.

A bushel of corn (around 25kg) for same month delivery rose 1.64% to $6.9500 from $6.8125 at the previous close.

Finally, a bushel of soybeans (about 27 kg) for delivery in May dropped 0.80% to 16.6150 dollars against 16.71 the day before.

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