- The Archer-Daniels-Midland Co (NYSE: ADM) stock increased by over 2.3% pre-market today. This is why.
The Archer-Daniels-Midland Co (NYSE: ADM) stock increased by over 2.3% pre-market today. Investors appear to be responding positively to increases in wheat prices.
Wheat prices have hit record highs due to concerns about a supply shortage due to the war in Ukraine. Ukraine and Russia account for around 30% of the world’s traded wheat, according to FT.
The wheat traded in Chicago increased by over 50% since Russia invaded Ukraine. And the prices increased to as high as $13.40 per bushel on Friday.
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