Grain, fertilizer, fuel prices impacted by Russian war in Ukraine

by George Jared (gjared@talkbusiness.net)

Russia’s invasion of Ukraine has impacted many economic sectors on a global scale and agriculture will be directly affected on several fronts. Grain markets have become more volatile and high fertilizer and fuel prices are going even higher.

Russia and Ukraine account for about 29% of global wheat trade and Russia is the world’s top wheat exporter. Ukraine accounts for about 16% of global corn exports. Scott Stiles, agricultural economist for the University of Arkansas System Division of Agriculture, said the situation will offer both opportunities and hardships for growers in Arkansas and elsewhere.

Oil prices traded at more than $122 per barrel on Monday (March 7) after it spiked for a short time to $130 per barrel. Gas prices inched towards all-time highs across the U.S. at $4 per gallon. Diesel prices are even higher and several analysts predict oil could rise to $200 a barrel before the conflict is over.

https://talkbusiness.net/2022/03/grain-fertilizer-fuel-prices-impacted-by-russian-war-in-ukraine/

Early Soybean and Corn Planting Set to Begin

by Talk Business & Politics staff

Anecdotal reports from growers across Arkansas indicate corn producers are eager to take advantage of clear weather as it occurs. Jason Kelley, extension wheat and feed grains agronomist for the Division of Agriculture, said fields in the southern part of the state are already seeing scattered activity.

“There are areas of south Arkansas where some producers have a substantial amount of corn planted,” Kelley said. “Some might even be close to done planting, while their neighbors haven’t even begun to plant yet. A lot of this corn was planted within the last week to 10 days. Calendar-wise, that’s still pretty early. With the warm weather earlier this week, a lot of that corn is already coming up out of the ground.”

Early planting is a gamble for growers. Early planted crops often have superior yields, compared to late-planted crops. In corn, however, those yields hinge on successfully establishing a stand. In years when spring brings heavy or recurring, intermittent rainfall, stands may be less than ideal, resulting in a lower yield from early planting.

https://talkbusiness.net/2021/03/early-soybean-and-corn-planting-set-to-begin/