Industry Expert Warns War In Ukraine Could Cause The Worst Global Grain Shortage In Over A Century
According to AgResource President Dan Basse, Russia’s war in Ukraine has created the biggest grain supply dislocation since World War I. Basse told a Farm Foundation virtual forum this week the war in Ukraine, a huge corn and wheat producer, will cause the worst global grain shortage in over a century.
“I’ve gone through and showed you how tight the world is going to be on grain, that this is indeed, the biggest supply dislocation we have seen, looking backwards, since World War I.”
Basse said even with input costs soaring, potential U.S. profitability is huge.
“U.S. farmers are looking at about 300-dollars an acre, in terms of corn profitability. On soybeans, $153-$154. And so, we are looking at the marketplace, encouraging US farmers to do their share to plant fence row to fence row, and produce as much as they can,” Basse said.
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