Wheat farmers face a tough decision: Should they plant more crop not knowing whether prices will hold up?
While winter wheat was already planted in late 2021, planting of spring wheat crop begins in a few weeks.
"What if the Ukraine crisis suddenly evaporates? It doesn't look like that but then [farmers] can be left holding the bag," said Scott Irwin, an agricultural economist at the University of Illinois. "Basically, what has to happen from a crisis like this with potentially seismic level loss of wheat supplies around the world, is places like the United States will draw down the reserves," said Irwin.
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