Importers of wheat and other grains around the world are busy trying to figure out what the conflict in Ukraine will do to global supplies for wheat and other grains and how to cover their needs for this next season. Jason Grant, Virginia Tech University Trade Analyst, said, fortunately, thanks to the productivity of U.S. farmers, this country is not dependent on grains from Russia and Ukraine.

"But, that's not the case for Egypt and Turkey and Indonesia and the Philippines, China.  And so, I believe a lot of these countries, you'll see, tryin' to shift orders, at least in the short-term. To where can I find corn?   Where can I find some of the vegetable oils?  Because Russia [and] Ukraine are big sunflower oil and meal importer and exporter."

Grant said this is likely already creating possible opportunities, "for other, global wheat exporters, including the U.S., Canada, the E.U., Australia."

But as to how much real change we'll see in world grain trade patterns, he noted, will be determined how long the war lasts.

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