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LeGrand: Future of Ukraine, Russia export deal uncertain, but results are encouraging

The head of the U.S. Grains Council says it’s too early to call the grain export agreement between Ukraine and Russia a success.

“I had a lot of doubts at the start that it would hold in the first place.”

President and CEO Ryan LeGrand tells Brownfield there’s been a significant increase in corn exports through three Black Sea ports. “When they were doing just the grain and barges through neighboring countries when the seaports were shut off, I think they were only able to get about 20 percent of their typical exports out.  That’s going to increase,” he says. “There is going to be more corn on the world market, and we’ve seen markets react to that.”

He says about 300,000 tons of corn have been exported, but the future of the agreement is still uncertain. “That situation is so volatile. We know they’re going to get more on the market.  How much is difficult to say and how that affects our exports is just really tough to say at this point.”

LeGrand says the first wheat vessel should sail very soon.

Brownfield interviewed LeGrand at the 2022 ACE Annual Conference in Omaha, NE.

Ryan LeGrand, President and CEO USGC: