Global Events Affect Wheat Market

Russia’s invasion of Ukraine in February 2022 caused an immediate disruption in the global wheat market, with serious implications for food prices and global food security. Wheat is a staple commodity in many countries and one of the most extensively traded crops worldwide. Global wheat prices increased by 28 percent in the early phases of the war, but within a few months, they began to decrease. They remain two percent to three percent greater than before the invasion.

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