The grain trade is showing disappointment over the lack of export business the United States has seen since the start of the Ukraine-Russian conflict.
It was immediately suspected this would bring the U.S. more export demand, especially for corn and wheat. Importers have been hesitant to shift their purchases, though, mainly because the values they were made at are considerably lower than the current market. The most watched buyer is China, which has an estimated 5 million to 6 million metric tons of corn purchases from Ukraine.
The most interest in immediate commodity production is in the Black Sea region. This is the time when the spring planting season gets under way in Ukraine and major disruptions are being seen due to the Russian war.
While the Ukraine government is encouraging planting and offering subsidies to those who need it for inputs, the simple process of getting needed inputs is an issue. This has led to export restrictions in both Ukraine and Russia and may...