REPORTER: Two Years In: Russia-Ukraine War’s Impact on the Agricultural Marketplace 

This article was originally featured in the WINTER 2024 Edition of Urner Barry’s Reporter magazine. 

On February 24, 2022, Russia launched a full-scale invasion of Ukraine, resulting in far-reaching ramifications to human life and for the global marketplace.

Both Russia and Ukraine are among the world’s most significant producers and exporters of agricultural goods. The two countries play a critical role in supplying the global market with critical commodities like fertilizer, grains, and oilseeds.

Prior to the invasion, global food...

Where Are Commodities Prices Headed?

Individuals investing in commodities haven't had a smooth ride over the past few years.

U.S. crude-oil futures briefly turned negative during the height of the pandemic in 2020 before rebounding to more than $82 a barrel recently. World food prices reached their highest level on record last year, in part as the Russia-Ukraine war spooked markets, but have fallen back more recently. And commodities from lumber to copper rode high and then fell, as global inflationary pressures and recession concerns drove trading.

So what happens next...

Russia and China Planning to Construct Bordering Grain Terminal 

Over the four-day Eastern Economic Forum held in Vladivostok, Russia from September 10-13, Chinese and Russian officials signed multiple deals to enhance trade flows between the two countries. 

This includes the construction of a new grain terminal, called the Grain Terminal Nizhneleninskoye-Tongjiang, as reported by the South China Morning Post. The terminal will help export food produced in the Ural Mountains, Siberia, and Russia’s Far East to China. 

The new logistics hub will be located between Vladivostok, a major port city in Russia, and China’s northeastern province of...

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Wheat Futures Rise Following Alleged Drone Attack on Moscow

Wheat futures on the Chicago Mercantile Exchange advanced by nearly 2% early Friday, boosted by mounting concerns over global supplies following an alleged drone attack on a building in central Moscow earlier in the day, according to media reports. 

December wheat reversed Thursday’s losses and narrowly surpassed $6.28 per bushel. This, however, was down sharply from its week-ago settlement price of $6.53 ¾ per bushel. Wheat prices have generally been on a steep downtrend since surging to $7.96 per bushel in late July, a five-month high... 

Ukraine's Navy Announces Temporary Corridors for Black Sea Vessels

Ukraine's Navy recently announced "temporary corridors" for merchant vessels destined for and departing from Ukrainian ports in the Black Sea.

“The specified routes will primarily be used for the possibility of leaving civilian ships that have been in the Ukrainian ports of Chornomorsk, Odesa, and Pivdennyi since the beginning of the full-scale invasion of Russia on February 24, 2022,” said Thursday's post.

The routes were previously proposed by Ukraine to the International Maritime Organization (IMO). 

Yesterday's announcement acknowledged military threats and mine danger from Russia along these routes. Moscow pulled out of the UN-backed...

Improved Rainfall Sends Soybean Futures to Multi-Week Lows

Widespread showers have largely benefitted corn and soybeans in the nation's key crop-producing regions, sending soybean futures on the Chicago Mercantile Exchange to multi-week lows on Monday.

November soybeans shed over 31 cents and fell to the lowest level since June 30, closing at $13.02 per bushel. 

In the latest USDA Crop Progress report, good to excellent ratings for soybeans were reported at 54%, up 2% from the week prior. Soybeans blooming moved up to 90%, above past progress benchmarks...

NATO to Increase Reconnaissance in Black Sea Following Russian Attacks on Ukrainian Grain Storage

During the second meeting of the NATO-Ukraine Council on Wednesday, NATO and Ukraine condemned Russia’s withdrawal from the Black Sea grain deal last week, which raised fears of global food insecurity and higher food prices for countries that depend on Ukrainian exports.

Moscow is creating “deliberate attempts to stop Ukraine’s agricultural exports on which hundreds of millions of people worldwide depend,” read a statement issued by NATO yesterday. 

The U.N.-brokered grain deal, signed last summer, allowed the export of 32.9 metric tons of commodities...