The collapse of a major dam in southern Ukraine sent global prices of wheat and corn higher.
Wheat prices gained 2.4% in early trading Tuesday at the Chicago Mercantile Exchange, to $6.39 a bushel. The cost of corn rose more than 1% and oats gained 0.73% . Prices had jumped higher earlier in the day.
The destruction of Kakhovka dam and hydroelectric power station, which sits on the Dnieper River in an area that Moscow controls, raised anxiety about a potential disruption to global supplies.Andrey Sizov, managing director of Black Sea agricultural markets research firm SovEcon, said the dam's collapse “looks like a big escalation with dire consequences and huge headline risk.”Wheat prices have been falling throughout the year.
Citi commodities analysts said Tuesday's incident is “a reminder of lingering inflationary risk in the goods market.” Ukraine accused Russian forces of blowing up the Kakhovka dam, while Russian officials blamed Ukrainian bombardment in the contested area — and cutting off water supplies to to Crimea, which which Russia illegally annexed in 2014. It was not possible to verify the claims.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Ukraine could lose 20% of winter grain crops if hot, dry weather persists - National | Globalnews.caWinter wheat dominates the Ukrainian winter grain harvest and accounts for 95 per cent of the European country's overall wheat production.
Lire la suite »
Russia claims Ukraine is launching major attacks; Kyiv accuses Moscow of misinformationMoscow officials claimed that Ukrainian forces were making a major effort to punch through Russian defensive lines in southeast Ukraine for a second day Monday. Kyiv authorities didn't confirm the attacks and suggested the claim was a Russian misinformation ruse.
Lire la suite »
Russia claims Ukraine is launching major attacks; Kyiv accuses Moscow of misinformationMoscow officials claimed that Ukrainian forces were making a major effort to punch through Russian defensive lines in southeast Ukraine for a second day Monday. Kyiv authorities didn't confirm the attacks and suggested the claim was a Russian misinformation ruse.
Lire la suite »
Russia says Ukraine is launching major attacks; Kyiv accuses Moscow of misinformationUkrainian forces were making a major effort to punch through Russian defensive lines in southeast Ukraine for a second day.
Lire la suite »
Ukraine accuses Russia of destroying major dam near Kherson, warns of widespread floodingUkraine accuses Russia of blowing up major dam, hydroelectric power station near Kherson
Lire la suite »
Major dam breached in southern Ukraine, unleashing floods as residents ordered to evacuate | CBC NewsUkraine on Tuesday accused Russian forces of blowing up a major dam and hydroelectric power station in a part of southern Ukraine that Moscow controls, threatening what officials called an 'ecological disaster' due to possible massive flooding. Russian officials countered that the Kakhovka dam was damaged by Ukrainian military strikes.
Lire la suite »