market-update No. 13-2022 Oilseeds
2022-02-28 | Ukraine war causes chaos on commodity markets
Russia has been the world's largest exporter of wheat since 2018, with Ukraine on its way to number three. In between is the USA. The price shot up to a new record high of 344 euros per ton in European trading on Thursday. Ukraine is the world's fourth-largest exporter of maize. Because the Ukrainian ports are closed, no grain can leave the country. According to Ukr-AgroConsult, 500,000 tons of wheat and 1.7 million tons of maize are currently stored in the country.
Russia has been the world's largest exporter of wheat since 2018, with Ukraine on its way to number three. In between is the USA. The price shot up to a new record high of 344 euros per ton in European trading on Thursday. Ukraine is the world's fourth-largest exporter of maize. Because the Ukrainian ports are closed, no grain can leave the country. According to Ukr-AgroConsult, 500,000 tons of wheat and 1.7 million tons of maize are currently stored in the country.