As long as there’s uncertainty surrounding the Russia-Ukraine war, market volatility will remain. Ukraine typically exports 20 million tons of wheat each year. “About ten percent of the total world trade is coming from Ukraine,” said Vince Peterson, president, U.S. Wheat Associates. “Ukraine doesn’t think they’ll be able to export more than 500,000 to one million tons each month at the absolute most, that means, there would be a shortage.” There’s a big hole to fill, but Peterson said the world has plenty of wheat. “How do you get and pay for high-priced wheat and high-cost freight from the various origins that have it to those that really need it? That’s the puzzle for the world right now.”
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