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Russia and Ukraine generate a quarter of the world's grain, and nearly as much so of corn. Ukraine was pretty much written off for this season, but Russia shut
by KennyBlanken 5y ago
Russia and Ukraine generate a quarter of the world's grain, and nearly as much so of corn.
Ukraine was pretty much written off for this season, but Russia shutting off grain exports is going to make things worse. However, it's yet another loss of income for them when they've already lost most of their oil/gas export income. My guess is that the grain and corn will go to China.
The US pays a lot of farmers to sit on their asses, so there's plenty of capacity; if the federal government acts fast and farmers are smart...
- denis1 5y ago> Russia and Ukraine generate a quarter of the world's grain, and nearly as much so of corn. They generate a quarter of the grain export. That's a very important difference. Russia stopping wheat exports would be a very bad thing, but it's not nearly as catastrophic as some present it to be.
- KennyBlanken 5y ago"A quarter of the grain that other countries need just went poof" is pretty catastrophic for all the poorer countries that need to buy that grain. They're going to be highly receptive to Russia's suggestions politically. Look at the countries that have abstained in the UN votes...