We’ll see what the fallout is. But the bottom line is that some amount of grain will be lost from world markets now that Ukraine cannot use their shipping ports, and, on top of that, Russia will send much, maybe most, of their grain to the Third World at no charge (for obvious reasons), which will greatly tighten what the the ‘first world’ importing countries have available to them.
Given the corruption in much of the Third World, I wouldn’t be surprised if the governments there re-sell free Russian grain to the First World...so the end result may be what the Neocons predict, hunger in the Third World.
So, things will get a bit ‘interesting’ in that regard.
Almost all the “first world” are wheat exporters, if you count the EU as a block, as one should.
Only major exceptions are Japan and SKorea. But a different in wheat prices would be minimal to them.
Watch this space - https://www.barchart.com/futures/quotes/ZW*0/futures-prices
Biggest wheat importers 2022, by dollar value
https://www.worldstopexports.com/wheat-imports-by-country/
Biggest exposure is not in the first world, definitely not in these trivial amounts. Worry about Egypt if at all.