Commodities & Metals

Tensions in Ukraine Raise Commodity Prices

wheat field
Thinkstock
Oil and gold were not the only commodities to trade at higher prices Monday. Agricultural commodities, too, are getting even bigger boosts from the troubles in Ukraine.

During the Soviet era, Ukraine was often referred to as the Soviet Union’s breadbasket for the vast amounts of wheat and grain the area produced. That production did not end with the demise of the Soviet Union. In eastern Ukraine, the area that identifies most closely with Russia, more than 35% of arable land was sown in winter wheat in 2010, and the country was on track to be the world’s sixth-largest exporter of wheat and the third-largest exporter of corn in the 2013-2014 crop year.

Any threat to those shipments will cause the price to rise, and that is exactly what happened Monday. On the Chicago Board of Trade, corn was up 1.35% at nearly $4.70 a bushel, and wheat was up more than 4% at about $6.27 a bushel.

The PowerShares DB Agriculture ETF (NYSEMKT: DBA) was up 2% in afternoon trading Monday, at $27.92 after hitting a new 52-week high of $52.94. The low is $24.04.

The Teucrium Corn Fund (NYSEMKT: CORN) was up around 0.3%, at $32.57 in a 52-week range of $29.50 to $44.22.

The Teucrium Wheat Fund (NYSEMKT: WEAT) was up more than 3.5%, at $15.01 in a 52-week range of $13.31 to $19.71.

Take Charge of Your Retirement: Find the Right Financial Advisor For You in Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.

Here’s how it works: 

1️ Answer a Few Simple Questions

Tell us a bit about your goals and preferences—it only takes a few minutes!

2️ Get Your Top Advisor Matches

This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.

3️ Choose Your Best Fit

Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.