Items Tagged with 'Ukraine war'

A new report underscores how Russia’s ongoing war against Ukraine is escalating concerns over already high food price inflation and the potential for millions more to go hungry around the globe.

Senators are trying to find an agreement on a new Ukraine supplemental spending bill by the end of this week, while Agriculture Secretary Tom Vilsack and other cabinet members head to Capitol Hill for questioning about their spending plans.

Commodity markets traded higher following a bullish report from the Department of Agriculture that led to increases across the board.

U.S. farmers facing soaring prices for fertilizer and other inputs plan to reduce corn plantings by 3.9 million acres this year and seed a record 91 million acres of soybeans, according to USDA’s annual planting intentions survey.

USDA increased its forecast for global wheat stocks despite the war in Ukraine but also cautioned that the Russian invasion had “significantly increased the uncertainty” of agricultural supplies and demand around the world.