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Food Names Rise after Russia Suspends Black Sea Exports

Names in the food space are in the limelight after Russia suspended shipments of grain from the Black Sea.

The latest move by Russia in its conflict with Ukraine came after it claimed a drone attack on its Crimean fleet by Ukraine. The development means a stopper to shipments out of Ukraine which is one of the largest grain exporters globally.

Consequently, the Teucrium Wheat Fund ETF (WEAT) is already up nearly 5% in the pre-market session today and about 17.6% year-to-date.

Additionally, the Teucrium Corn Fund ETF (CORN) is up 2% today already on top of the nearly 26% price gain so far this year.

The European Union has urged Russia to withdraw the move.

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