Wheat
One of the world's most important food crops and a widely traded agricultural commodity.
In plain English
One of the world's most important food crops and a widely traded agricultural commodity.
Wheat feeds a huge share of the world, and it is traded as futures in Chicago and elsewhere. Prices swing with weather, harvests, export bans and war: Russia and Ukraine are both major exporters, so the 2022 invasion sent wheat prices soaring.
Wheat prices feed into food inflation, which matters for central banks, and into the currencies of big exporters and importers.
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