Russia
Russia’s Blizzard of the Century Is a Blessing for Wheat Fields
Cold weather in central areas and the Volga valley of Russia delayed the resumption of winter wheat growth by about two to three weeks compared with last year.
Russian wheat export prices rose last week following higher wheat prices in Paris, analysts said on Monday, adding that the country’s exports continued to slow down due to seasonal factors.
Trade disruptions in energy, fertilizer and grains are inevitable. In fact, effects are likely to last for years, possibly even decades.
Before Putin’s forces even breached the Ukraine border, fear and speculation drove commodity prices skyward. Concerns are warranted.
Russia may suspend exports of wheat, barley, corn and rye starting Tuesday and lasting until June 30, the Interfax news agency reported on Monday, citing the agriculture ministry.
March 11 (Reuters) - Global farm commodities trader Cargill Inc (CARG.UL) said on Friday it was scaling back its business activities in Russia and has stopped investments in the country.
(Reuters) - The Russian invasion of Ukraine threatens millions of tiny spring-time sprouts that should emerge from stalks of dormant winter wheat in the coming weeks.
“Before the war with Ukraine, the President encouraged Russia to produce more oil to help us lower the price at the pump,” says U.S. Sen. Jerry Moran (R-KS). “That’s so hypocritical.”
UPDATE: WASHINGTON (AP) - Biden: US ban on Russian oil a ‘powerful blow’ to ‘Putin’s war,’ warns Americans ‘defending freedom is going to cost.’