Rumours of Russia closing critical food corridors are the primary concern of traders

In the context of the generally perceived neutral impact on the market of the World Agricultural Supply and Demand Expectation Report, the attention of traders has shifted to the latest developments in the war between Russia and Ukraine. Rumours about Russia's closure of key food corridors are the primary focus of traders. In a report, StoneX analyst Arlan Suderman states: “The main situation remains that, as a result of the closure of the Strait of Kerch, there were some risk premiums in the wheat market before the end of the weekend”. Following the escalation of Ukraine ' s attack on Russian energy facilities, there was a possible closure of key export infrastructure. The Russian response to the risk of disrupting the supply of wheat in Ukraine is also a concern for traders. The wheat futures rose by 3.4 per cent。