Teucrium Wheat Fund ETV Shares Spike After Russian Defense Ministry Says It Will Consider All Ships Traveling To Ukrainian Ports On Black Sea As Potential Carriers Of Military Cargoes From 20 July
Portfolio Pulse from Benzinga Newsdesk
Shares of Teucrium Wheat Fund ETV (WEAT) spiked after the Russian Defense Ministry announced it will consider all ships traveling to Ukrainian ports on the Black Sea as potential carriers of military cargoes from 20 July. This could potentially disrupt wheat exports from the region, impacting global wheat prices.
July 19, 2023 | 3:15 pm
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WEAT shares spiked due to potential disruption in wheat exports from Ukraine following Russia's new policy. This could impact global wheat prices and hence the performance of WEAT.
The Russian Defense Ministry's announcement could disrupt wheat exports from Ukraine, a major global supplier. This could lead to a rise in global wheat prices, positively impacting the performance of WEAT, which tracks wheat prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100