In the year since, Ukraine has resisted the invasion with assistance from European and American allies. On that date, Russian forces dramatically escalated the existing Russia-Ukraine conflict, initiating a “special military operation” intent on seizing Ukrainian territory including the capital of Kyiv. Background: War and Ukraine’s Place in Global Marketsįebrumarks the one-year anniversary of the Russian invasion of Ukraine. Going forward, corn and wheat markets will balance supply response to high prices occurring in other major production regions with the prospects for continued war-induced supply losses in Ukraine. After spiking in the months following the start of the war, commodity prices have moderated to pre-war levels which remain high in historic terms. For 2022/23, large declines in exports of approximately one-half to two-thirds were initially anticipated but those initial worst fears about lost or stranded Ukrainian agricultural supplies have not been realized. Overall, corn and wheat exports from Ukraine in the 2021/22 marketing year were down 20% from projections made before the conflict. Ukraine’s corn and wheat production and exports are of broad interest because they comprise a significant share of the global market for these crops. The impacts of the Russia-Ukraine conflict on Ukrainian corn and wheat supply are reassessed at the war’s one-year anniversary.
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