Bloomberg writers Kim Chipman, Eleanor Song, and Tarso Veloso Ribeiro reported yesterday that, “Global grain markets are at a pivot point, with prices finally starting to ease after a dizzying surge earlier this year.”
The Bloomberg writers explained that, “Russia’s invasion of Ukraine has stifled exports from a region that’s known as the world’s breadbasket. The disruption has sent crop futures to near-record highs, with stockpiles extremely tight. That’s adding to rampant food inflation and raising fears of global grain shortages.
Markets have finally started to calm in recent weeks on optimism that key producers like Australia and the US will reap harvests large enough to help replenish war-pinched reserves.
“But in order to keep food inflation at bay, every bushel of US acre will need to see maximum yield potential. And every bushel of grain will count.”
