The recent fights between Russia and Ukraine are making the prices of corn and wheat around the world go up. The growing conflicts have destroyed a lot of grain in Ukraine, making it harder for the country to export it. This also affects the worldwide food supply chain.
U.S. State Department spokesperson Matthew Miller reported that Russian strikes had decimated 180,000 tons of grain in Ukraine since the Black Sea Grain Initiative ended. This destruction, including 40,000 tons of grain destroyed in just one day, has significantly disrupted Ukraine's grain shipments.
The situation worsened when Russia targeted a port across the Danube River from Romania with missiles, further stalling grain exports out of Ukraine and disrupting the global grain market.
Dave Salmonsen of the American Farm Bureau expressed concerns about the halted grain movements in Ukraine. He noted that the previously somewhat reliable grain transport system within the war zone has now been disrupted, and Ukraine must identify alternative grain export methods.
Miller pointed out that Russia's actions are harming not only Ukraine but also global food supplies. By attacking grain and shipping infrastructure, Russia is impacting food supplies for countries around the globe.
Recent events, including Ukraine's use of sea drones to attack a Russian warship and naval base, have driven corn and wheat prices up in the grain markets.
Following the Black Sea Grain Initiative's conclusion on July 17, Ukraine reported 26 port facilities hit by Russia, resulting in the loss of nearly 200,000 tons of grain. As the conflicts between Russia and Ukraine escalate, they pose a serious risk to global food security and grain market stability.
Source : wisconsinagconnection