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War in Ukraine upends global ag markets as Minnesota farmers prepare for new crop

Farmers welcome rising wheat, corn and soybean prices, but they also face soaring energy and fertilizer costs

 

David Joles, Star Tribune

Minnesota corn growers could see a bigger market for their grain because of the war in Ukraine. Shown is the 2015 harvest at Far-Gaze Farms near Northfield.

Russia's invasion of Ukraine last week has sparked turmoil in agricultural markets just as Minnesota farmers prepare for this spring's planting.

The farmers see opportunity but also economic danger - and a lot of uncertainty.

Prices for corn and soybeans have returned to the highs of last spring and summer, a level not seen in seven to eight years. Wheat prices have soared as worries rose about supply. Russia and Ukraine together account for nearly one-third of global wheat exports.

https://www.startribune.com/war-in-ukraine-upends-global-ag-markets-as-minnesota-farmers-prepare-for-new-crop/600151450/

 

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