Corn climbed to the highest since September- I am glad i did not sell this
and wheat rallied the most since August as tension escalated in Ukraine, a leading exporter of both grains.
Corn for May delivery jumped as much as 3 percent to $4.7725 a bushel on the Chicago Board of Trade, the highest since Sept. 3, and was at $4.75 by 2:21 p.m. in Singapore. Wheat increased as much as 4.5 percent to $6.295, the biggest intraday gain since Aug. 26 and the highest level since Dec. 13.
Ukraine, set to be the third-largest corn shipper this year, mobilized its army reserves as Russia seized control of the eastern European country’s Black Sea region of Crimea, intensifying one of the most serious standoffs with the U.S. since the end of the Cold War. Ukraine will probably export 9.5 million metric tons of wheat this season from 7.1 million tons in 2012-2013, making it the sixth-biggest supplier, according to the International Grains Council.