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Wheat price continues to shatter records as Russia-Ukraine war curbs supply

Mar. 07, 2022 9:42 AM ETTeucrium Wheat ETF (WEAT)ADM, BG, CORN, SOYB, C_1:COM, S_1:COM, W_1:COMBy: Carl Surran, SA News Editor12 Comments

Road through wheat field

Toltek/iStock via Getty Images

Chicago wheat futures (W_1:COM) soared 40% last week, its biggest weekly rise on record, and on Monday have hit their highest price since March 2008, +7% to $12.94 1/4 per bushel, rising

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Comments (12)

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PapaWhisky profile picture
$WEAT is unable to issue new shares as demand appears to have gotten ahead of their existing registrations with SEC.

Flying Leap profile picture
@PapaWhisky timely info, thx.

Is this a buy or sell signal? What is the best way to play this news?

I just got stopped out on WEAT.
PapaWhisky profile picture

I think this is just clerical and will be resolved as soon as the SEC approves the new registration.

Right now Wheat is getting hammered off its recent peak ... not sure what that means
Flying Leap profile picture

Good to know. Given that, I bought back into WEAT at $10.27.

This time with a wider stop loss, don't want to get kicked out again.

Hopefully, the fact it's a fund won't make it subject to 'clerical' price movements - like when they issue more shares.

I also own their $CORN and $SOYB - riding this trend.

Haven't decided what price to sell at yet. Don't know how to time the top.
Solojif1 profile picture
No worries they have now invented “Beyond Wheat”. It’s left over algae feces that taste like the real thing!
The war is having a cascade effect on grain exports. Countries are adopting food protectionism like Hungary and reducing global supply even further. Some parts of US experience drought and American export is expected to drop this year. Good luck to China in feeding it's huge population because they won't be able to purchase enough on the open market. :/
@Puppychow but important to note they are hoarding vast quantities of the world supply, 50-70% depending on the grain type.
wward001 profile picture
Ukraine Wheat is not exported to America or Canada and there Corn production is minimal as with all hype this is grossly over done. It wont stop the traders in Chicago from price manipulation.
Energysystems profile picture
@wward001 I'm sure there's people outside of America and Canada that eat Ukrainian grown wheat. Well, at least they used to.
Clairvoyant Investor profile picture
37% of global wheat exports come from Ukraine 28% and Russia 9%. The vice premier in China is very concerned about China's wheat supply by winter. Massive demand and very little supply and reserves
elwalle profile picture
Saltine cracker...........anyone?
Energysystems profile picture
@elwalle Not at these prices!

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