Mon, Jun 6th, 2022 - 8:25am
March 14, 2022 - 6:42am | By Kyle Cornell
(Bejou, MN) -- Minnesota wheat farmers are being impacted by the Russian invasion of Ukraine.
Minnesota Wheat Growers Association president Mike Gunderson says wheat markets are volatile, with currently higher prices resulting from the conflict. Russia is the world's number one exporter of wheat and Ukraine is the fifth, making up a combined nearly 30-percent of global wheat exports.
Ukraine has cut off all wheat exports to ensure they can feed their people. Moves are being considered to make Russian wheat exports difficult. University of Minnesota grain market economist Edward Usset says the increase in grain prices may make Minnesota wheat more valuable, but will also impact food prices.