Wheat prices soar

U.S. wheat futures prices hit a two-month high on Thursday, fueled by risks of escalating conflict in Ukraine coupled with dry weather in growing areas of Argentina and the U.S. plains, traders said. December contracts on the Chicago grain market rose 13.25 cents to $9.17 per bushel (25.4 kilos) after hitting $9.2250, its highest since July 11. Traders seemed focused on fears of further disruption to the Black Sea grain trade in the wake of escalating tensions between Russia and Ukraine.

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