A market advisor says Russia’s escalation of its war against Ukraine this week could raise some production costs for US farmers.
Jody Lawrence with Stragetic Trading Advisors says the closure of the Grain Export Corridor in the Black Sea could impact fertilizer shipments.
“You have to begin to be concerned about how much Russian fertilizer is going to be available and at what price.”
Russia pulled out of the Black Sea Grain Initiative on Monday and Ukraine reported on Tuesday that Russia bombed the Odessa Port in the region.
