StoneX Group Chief Commodities Economist Arlan Suderman says the Ukrainian people are defending themselves well, but the war is far from over. Ukraine’s can-do attitude is expected to carry over into the agriculture sector, but that doesn’t mean farmers will be able to plant a crop this year. “We first saw acreage estimates coming out Ukraine at a 40 percent decline and expect that to continue to go lower due to abandonment or lack of planting,” said Suderman. “We also saw an estimate that roughly 34 percent of the arable land in Ukraine was unfarmable this year, because it was either occupied by Russian troops or there were unexploded mines on the ground that needed to be cleared.” Even if a crop is produced, it may not be a very productive crop.
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