In recent days, a dam and hydroelectric plant in Russian-controlled southern Ukraine was destroyed and a section of a major pipeline carrying ammonia fertilizer was blown up. StoneX Chief Commodities Economist Arlan Suderman says the market is getting desensitized to the headlines coming out of the war. “It knows that Russia’s dumping cheap wheat onto the world market and as long as Russia is able to do that we don’t see any impending shortages and the market discounts the news out of the Black Sea region.” Suderman believes it will be increasingly more challenging for Ukraine to export wheat.
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