The first shipment of Ukrainian grain has left the port of Odesa. This is the first grain exported from Ukraine’s Black Sea ports since Russia invaded the country on February 24th.
Jim Mintert, director of Purdue University’s Center for Commercial Agriculture says the global markets continue to keep a close eye on the export corridor. “There’s a tremendous amount of uncertainty there and that just contributes to the volatility,” he says. “The grain markets right now seem to think a substantial portion of that grain is going to come to market. How quickly and how that is going to play out is unknown.”
And Mintert says harvest is underway in that part of the world leaving many farmers in Ukraine scrambling.