The European Union has proposed new sanctions against Russia Tuesday, including a ban on coal imports. The sanctions, if ratified, would bar Russian imports worth 9B euros and exports to Russia worth 10B euros. Oil import bans are being considered.
Chicago #wheat futures are hanging with 2008, the only other year where prices were similarly as strong. May futures were trading up nearly 40 cents per bushel early in Tuesday's session on new sanctions against top wheat exporter Russia and poor conditions for the U.S. crop.
