Concerns about grain production in Russia and Ukraine adds to volatility

Russia’s invasion of Ukraine continues to threaten global wheat supplies, sending prices soaring.

Stephen Nicholson, global grains and oilseeds strategist for Rabobank says Russia and Ukraine account for about 30% of global wheat exports. “If you take Russia and Ukraine wheat out and you think ‘that means there’s a lot left’, but you look at the other exporters in the world and you look at those stocks,” he says.  “There aren’t enough stocks there to make up the loss of exports.”

During a recent RaboResearch webinar, Nicholson said he’s concerned about grain production in those two countries for this year.

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