The suspension of agricultural exports from Ukraine and parts of Russia means other countries are looking to fill their needs elsewhere. StoneX Group Chief Commodities Economist Arlan Suderman thinks it will be tricky for countries to do business with Russia. “Wheat and corn tenders can be very enlightening on who is going to continue doing business with who. Bottom line: without Russia and Ukraine’s wheat, food scarcity will become a greater concern in developing countries.” It’s also not clear if Ukraine will be able to harvest wheat. “Some fields in the western part of the country were able to get top-dressed with nitrogen before the war really spread, but there are questions about whether farmers are in a good position. We could be losing production for another year, not only wheat, but corn.”
