Funds dump CBOT wheat shorts on epic rally; end users snap up corn -

The two Black Sea grain giants cover more than a quarter of the world’s wheat exports and Ukraine is a top corn exporter, and both countries’ shipping programs have been largely non-existent since the invasion began late last month.

FORT COLLINS, Colo.: Many speculators were on the wrong side of the Chicago wheat market when Russia invaded Ukraine and therefore unprepared for last week’s price action in the futures market.

The two Black Sea grain giants cover more than a quarter of the world’s wheat exports and Ukraine is a top corn exporter, and both countries’ shipping programs have been largely non-existent since the invasion began late last month.