Victor Tsvyk harvested 4,800 tons of wheat this month, but after Russia exited a wartime deal that allowed Ukraine to ship grain to the world, he has no idea where his produce will go, or how his beloved farm will survive.
When Russia invaded Ukraine on Feb. 24, 2022, Chicago wheat prices rose from $8.85 a bushel to $14.27 by March 7 2022. The rally, however, was rather short-lived.
When asked to describe war, Union General William T. Sherman noted that “war is cruelty, and you cannot refine it.” Later, Sherman did refine his dictum to the much shorter, impossible-to-forget: “War is hell.”
Food insecurity is on the rise. New data on global food security and nutrition indicate a significant increase in the number of people on this planet lacking access, at times, to enough food for an active and healthy life.
There are several interesting theories on the ag and energy markets that have been unfolding the past few weeks.
The one certainty about the Ukrainian-Russian war is that there is little certainty. Even with Russia’s recent history of aggression, few predicted outright war.
The clock is ticking for the farm bill as it is set to expire at the end of September. Farmers and ranchers aren’t the only ones with eyes on the clock, either.
The Federal Reserve began hiking interest rates more than a year ago to fight inflation. In June 2022, inflation was nearly 9%, but has since dropped to 3%.
Russia followed its withdrawal from a grain export deal by expanding its attacks from port infrastructure to farm storage buildings in Ukraine’s Odesa region, while also practicing a Black Sea blockade.
Heading into the U.S. Department of Agriculture’s supply and demand estimates report, the trade’s big questions included where the corn yield estimate was going go.
Farmers markets gave people something they desperately sought during the pandemic: A place to shop outdoors, and at the same time support smaller, often local businesses.
The USDA’s most recent World Agricultural Supply and Demand Estimates report confirmed that a freight train of grain is barreling toward 2023-2024 markets and farmers everywhere need to prepare for the rockier prices sure to follow in its wake.
USDA analysts forecast record soybean production worldwide of nearly 410.6 million tons, up nearly 11% from last year. If realized, this would be the largest year-over-year production increase in nearly two decades.
A California peace activist who has worked to remove land mines from war-torn regions and replace them with grape vines, fruit trees and vegetables was named the 2023 World Food Prize laureate.
A grassy lane rutted with tire tracks leads to Volodymyr Zaiets’ farm in southern Ukraine. He is careful, driving only within those shallow grooves — veering away might cost him his life in the field dotted with explosive mines.