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BEIJING- Chicago wheat futures rose for a second consecutive session on Tuesday to hit a one-month high, amid concerns that Russia may invade Ukraine, a key global supplier, and disrupt grain supply from the region.
Tensions are high after Russia massed troops in reach of its neighbor’s border, surrounding Ukraine with forces from the north, east and south. NATO said on Monday it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets.
The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 0.6 percent to $8.06 a bushel.
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