Ukraine Turmoil Seen Boosting U.S. Grain Exports as Corn Rallies
This article is for subscribers only.
Urkaine’s escalating turmoil is signaling that grain buyers may be forced to import more from the U.S. as corn prices rally to a six-month high.
Farmers in Ukraine are holding commodity supplies to hedge against a devaluing currency, slowing shipments, according to Cary Sifferath, a regional director for the U.S. Grains Council. Buyers in Asia may be reluctant to purchase from eastern Europe on supply-disruption concerns, according to Jefferies Bache LLC. Ukraine was projected to be the world’s third-biggest corn exporter and sixth-largest wheat shipper this season. The U.S. is the top shipper of both grains.