Wheat prices rise for the sixth consecutive session.
Wheat prices rose, approaching the record levels recorded in 2008, amid expectations that they will exceed them this week, amid the escalation of the effects of the Russian-Ukrainian war on the markets.
Wheat prices rose for the sixth consecutive session, after a 41% gain last week.
Ukraine and Russia provide 25% of the world's wheat and are also major suppliers of corn, barley and sunflower oil.
In this atmosphere, China, the largest importer of corn and soybeans in the world and one of the largest buyers of wheat, is heading to secure basic supplies in global markets, which contributes to the rise in prices.
Corn is trading near the highest level since 2012, while soybean oil and palm oil are at record levels.
The Source
- alarabiya.net