When it comes to agriculture a number of outside influences from weather to politics, can have a major impact on your operation.
In the last couple of years, supply chain challenges have had a major impact on everything including agriculture.
Another key factor right now is the Russia/Ukraine war.
Geopolitical economist Peter Zeihan says we're in a situation where the world's number one wheat exporter is deliberately destroying the fifth largest wheat exporter.
"We've seen that the Russians have turned to targeting civilian infrastructure. In the winter, that means going after electricity generation. By the time we get to summer, I have no doubt they're going to pivot and start going after agricultural processing, collection and distribution as well. So this really is the end of Ukraine as a player. And it's an open question of how large of an output that the Russians can maintain without access to foreign technology or inputs or machinery or insurance."
With the impact of the war between two key wheat-producing countries, wheat prices have taken a substantial jump.
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