Wheat futures are soaring. Food prices could be next
CNN
Russia's attack on Ukraine is causing wheat prices to spike, exacerbating already high food prices.
Wheat futures are up about 5.35% Tuesday, reaching prices not seen since 2008. The higher prices make wheat more expensive for food makers, who will likely pass those costs on to consumers.
Ukraine and Russia together are responsible for about 14% of global wheat production, according to Gro Intelligence, an agricultural data analytics firm. The two countries supply about 29% of all wheat exports. Prior to the Russian invasion, Ukraine was on track for a record year of wheat exports, while Russia's wheat exports were slowing, according to the US Department of Agriculture.
An explosion on the Texas Tech University campus in Lubbock set off fires and power outages Wednesday, leading school officials to issue evacuation orders for several buildings and cancel classes for the rest of the week.
Tim Walz is headed back out on the road – this time, for a tour of House districts represented by Republicans, some of whom have stopped holding town halls amid the raucous receptions their colleagues have gotten across the country.
Ecuadorian President Daniel Noboa has announced a “strategic alliance” to fight organized crime with Erik Prince, the founder of the controversial private defense contractor formerly known as Blackwater.
CNN’s 5 Things PM brings you the stories you might have missed during your busy day.
Indian authorities have arrested a Lithuanian man wanted by the US for allegedly running a $96 billion cryptocurrency exchange that allowed terrorist organizations, drug traffickers and cybercriminals to launder money.
A federal judge on Wednesday halted parts of President Donald Trump’s executive order that targeted a Democratic-linked law firm.
The sister of Supreme Court Justice Amy Coney Barrett was the target of a bomb threat at her home earlier this month in Charleston, South Carolina, police said Wednesday.
Democratic Sen. Jeanne Shaheen of New Hampshire announced Wednesday that she will not seek reelection in 2026, a decision that will bring an end to the senator’s historic career in Congress and sets up a competitive race for the Senate seat in the Granite State.
As Trump imposes sweeping 25% tariffs on steel and aluminum, Mark Carney, leader of Canada’s ruling Liberal Party, told workers at a steel mill in Hamilton, Ontario that the country’s leadership was ready to sit down with the US “under a position where there’s respect for Canadian sovereignty.”
As the Office of Personnel Management oversaw the layoffs of thousands of federal workers and pressed others to justify their positions, the agency’s chief spokesperson repeatedly used her office for a side hustle: aspiring Instagram fashion influencer.
José Daniel Simancas Rodríguez was one of 177 Venezuelans that the US deported and sent to its naval base in Guantanamo, Cuba. He said his 15-day detention was unbearable and compared it to “hell.”
A 41-year-old woman was found alive on Tuesday after being trapped in her car for six days following a crash in northwest Indiana, officials said.
On a Friday afternoon in downtown Philadelphia, dozens gather on the corner of South 2nd and Chestnut streets. A mix of retirees and fired federal workers, they are teeming with fury, but not just toward President Donald Trump, Elon Musk and the early actions of the administration.