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Ukraine questions providing support to U.S. prices

Uncertainties surrounding Ukraine’s exports are helping prop up U.S. prices. Craig Turner, broker at StoneX tells Brownfield that Ukraine’s exports after Russia’s invasion are a big question mark for commodities, “The problem is the war could escalate, and then we’re right back where we started and everything is much higher than we are now, or things could keep going the way they are and prices eventually leak back down.”

Turner says those unknowns should continue to be a supportive factor until there’s more clarity, “In terms of quality, insurance, the cost (of) getting the boats up into the Black Sea and then back out, it’s going to keep prices elevated until the market is satisfied that this process has legs longer than a month.”