Ukraine/Russia really matter?
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Only the human fodder continuously torn asunder.
Seems like the war is always framed up in terms of economics and territory.
Well, suddenly people discovered large-scale wheat exports from Argentina and Australia, so...
Brother farmer my wheat is worth 6.02 per bushel here in central Kansas right now. I think it’s only down .02 today, but tanked .21 yesterday. There ain’t going to be a whole lot of extra money on this farm this year. We got to hang on. Take care.
You say wheat prices being down means Russia doesn’t matter, but the reality is the opposite. Wheat price is down in part because of Russian wheat production.
Russian wheat production is at record high levels. This is the most recent report from the USDA foreign agricultural service:
Apr 11 2023 | Russia Wheat: Record MY 2022/23 Harvest
USDA’s estimate of Russia wheat production for MY 2022/23 is a record 92.0 million metric tons (mmt), up 22 percent from last year and 18 percent above the 5-year average. The estimate includes 68.0 mmt of winter wheat and 24.0 mmt of spring wheat. Total wheat yield is estimated at a record 3.17 tons per hectare (t/ha), up 17 percent from last year and 12 percent above the 5-year average. Total harvested area is estimated at 29.0 million hectares (mha), up 5 percent from last year.
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Is wheat a fungible commodity? Ukrainian wheat is considered low quality and isn’t imported to the US and much of Europe.
O believe more farmers planted wheat so there’s more supply to meet current demand.
It would be nice to hear your ideas on this thread.
‘Gold mine’ of Century-old Wheat Varieties Could Help Breeders Restore Long Lost Traits
https://freerepublic.com/focus/f-chat/4245337/posts