Wheat Climbs to Three-Month High on Rising Ukraine War Worries
- Escalating Russia-Ukraine conflict is a threat to crop exports
- Futures pare some gains amid uncertain global demand outlook
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Wheat closed at the highest price since June as traders considered a worsening Russia-Ukraine war against lackluster US grain demand.
The futures climbed as much as 7.9% in Chicago, within cents of the daily exchange limit, before ultimately settling up 6.6% after explosions rocked the Ukrainian capital Kyiv. Russia has threatened further missile attacks.