Assessing tight global wheat stocks and their role in price volatility
by Joseph Glauber OPEN ACCESS | CC-BY-4.0 The Russia-Ukraine war has caused significant price volatility in agricultural markets over the past year—for wheat, in particular, price levels and price volatility reached the highest levels since the 2007/08 marketing year. Both have fallen back to pre-war levels over the past six months, but volatility remains high relative to historical levels (Figure