Oil prices jump on fears over Ukraine Crisis

“Global oil prices soared to the highest levels this year on Monday as the Ukraine crisis raised concerns about disruptions to energy supplies.’

“The on-going uncertainty in Ukraine has caused further upside momentum to the oil market amid concerns about oil production issues,” said Myrto Sokou, senior research analyst at Sucden brokers in London.

Article source: http://www.channelnewsasia.com/news/business/international/oil-prices-jump-on-supply/1019488.html

• How exactly did the global oil prices rise?
• What contributed to it?
• For more details and further reading, please follow the above link.

Rising rice and wheat exports from India cause global wheat prices to fall

Image source: kewing @ flickr

“Exports of 2012/13 and likely exports this year mean 40 million tonnes of shipments. You look at whatever historical data you have, India has never ever done that,” said Gulati, chairman of the Commission on Agricultural Costs and Prices. ”

“Global wheat prices fell 25.6 per cent to $6.05 a bushel in 2013 due to oversupply, with benchmark Chicago futures still hovering around that level.”

Article source: India likely to export 18 million tonnes rice, wheat in 2013/14

How exactly did the price of wheat fall?  What contributed to it?  For details and further reading, please follow the above link.