An economist says the Ukraine-Russia war is affecting commodity markets, and U.S. farmers will benefit from it.
Stephen Nicholson with Rabobank says, “We have arable ground to produce the crops that the rest of the world needs.” He tells Brownfield if the war ended tomorrow, the United Nations has estimated that up to 25% of Ukraine’s productive farmland will not be available for planting anytime soon. “Because of mining, because of ammunition that is unexploded, trenches have been built, and then just the craters from the bombs and the toxicity that has been left behind in soils.”
Nicholson says farmers in the western hemisphere remain ready to grow what Ukraine can’t.
