The situation in the Black Sea pushes up wheat futures prices.

Amid increasing concerns over the situation in the Black Sea region,NetEase star card Chicago wheat futures continued to rise on Friday, with the market's focus on the further escalation of the conflict between Russia and Ukraine. Wheat prices reached $5.89-1/2 per bushel, nearing the two-month high of $5.91-3/4 touched on Thursday. Although the market's reaction to Ukraine's accusations of Russian attacks on grain ships was relatively mild, geopolitical uncertainties continue to support prices.

Meanwhile, despite the U.S. Department of Agriculture unexpectedly raising its corn production forecast, corn futures rose for the third consecutive day to $4.09-3/4 per bushel. Drought conditions in South America also provided additional support for the corn and soybean markets. The drought in Brazil's main soybean-producing area has set a record for the lowest soil moisture levels in 30 years, which could further drive global grain prices up.

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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