IARN — By now you have heard about the Russian invasion of Ukraine. As of last night, Russia abandoned all pretense and launched troop incursions and rocket attacks throughout the entire country of Ukraine, including its capital, Kyiv.
While the world awaits any official international action or intervention, the markets around the globe are reacting quite quickly. This action by Russia not only puts stress on the general world economy, but it also has a large effect on the global food supply. Not only will this affect the Ukrainian agriculture industry, but everybody else’s as well.
Jim McCormick is a Hedging Strategist with AgMarket.Net. He talks about the knee-jerk reaction we saw overnight. While it is a quick response to the situation, McCormick adds that there is good reason for the grain markets to be unstable, given the number of grain exports Ukraine accounts for……
For more on this story, visit the Iowa Agribusiness Radio Network.
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