Latest News From Ukraine

Kansas typically accounts for 25% of the nation's winter wheat production, but ongoing drought is weighing on overall crop conditions. Farmers are now facing the possibility of increased abandonment this year.

Diesel prices are causing sticker shock, as fears of a possible diesel shortage are growing. It’s not just retail diesel prices that are rapidly rising. Some farmers report booking off-road diesel for above $5.

Biden says Ukraine has 20 million tons of stored grain awaiting export to various countries. He says lack of port movement coupled with halted planting in Ukraine will ignite a global food crisis unless action is taken.

Diesel prices hit historic highs this week. Due to increased demand and a drop in production, a diesel shortage may be looming as the largest diesel distribution hub in the U.S. is sitting on supplies at a 30-year low.

With the ongoing war in Ukraine, a recent U.S. Farm Report viewer asked about the U.S. and energy independence. John Phipps provides a reality check of the current situation when it comes to crude oil and petroleum.

The fundamentals in both the grain and livestock markets didn't change this week. So, why did prices see such a volatile trading week? Joe Vaclavik and Don Close break down this week's market action on U.S. Farm Report.

Even with Russia removed from the global fertilizer market, it still doesn’t create worst-case scenario. StoneX Group says China could make the situation worse, as China and Russia account for 40% of global phosphate.

Crude oil hit a 13-year high and wheat topped $13. With front-month soybeans soaring past $17, and corn nearing the $8 mark, the crisis in Ukraine means food and fuel inflation fears are also heating up. 

Just as wheat prices hit a new all-time high, the March contract was spooked, as profit taking caused the front-month contract to drop more than 80 cents in minutes. Despite that, the fundamental story hasn't changed.

Soft Red Winter (SRW) futures hit an all-time high Friday, as consecutive limit up trading days meant wheat prices topped a previous high set in 2008.

Congress returns Monday, but to a very different situation due to Russia’s invasion of Ukraine, which is expected to be one of the key issues President Biden talks about during his State of the Union address.

Despite signs Russian President Vladimir Putin may be ready to talk with representatives from Ukraine, Cargill confirmed a ship it chartered was hit in the Black Sea on Thursday. The vessel was empty at the time.

The Russia-Ukraine crisis sent wheat prices skyrocketing 50 cents higher, with corn up 30 cents at one point Thursday. Crude oil also soared above $100 per barrel, hitting the highest level since 2014. 

Cattle markets were hit hard Thursday on news of Russia's invasion of Ukraine. Higher grain prices drove feeder cattle prices as much as $5 lower on CME feeder cattle futures and more than $2 lower for CME Live cattle.

Will the expected sanctions on Russia impact global meat trade and demand? Len Steiner of Steiner Consulting Group posed this question in the Feb. 24 Daily Livestock Report.