The US wheat and corn futures both rose to their daily trading limit today on the invasion of Ukraine by Russian forces.

  • Wheat is up for the third day in a row and has climbed 15.29% over that time. From the January 2022 low, the price of wheat is up 27.03%.
  • Corn is up for six consecutive days and is up 12.9% from the low on February 16 for the year, corn is up 22.92%.

Looking at the wheat futures contract, the price high has reached $9.34 per bushel. That is up from the close yesterday of $8.04 and against its daily trading limit.

Wheat futures
Wheat futures are trading limit up

For the corn futures, the price high reached the limit high price of $7.18. That is up from the close yesterday of $6.54. The current price is off of its daily trading limit at $7.14 currently. The high price is still short of its 2021 high price of $7.35 reached on May 7, 2021.

Corn futures
Corn futures are up near 13% over the last six trading days

Russia and Ukraine account for 29% of the global wheat exports, and 19% of the world corn supplies.

In other commodities ,

  • Soybeans reached the highest level since 2012. The high price reached $17.59, before backing off. It currently trades at $16.78. The price is soybean futures are up 25% from the beginning of the year.