Latest News From Ukraine

The July Ag Economists' Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.

After workers left for the frontline and processors stopped paying, producers have become reluctant to rebuild their herds.

“When Ukraine fails, in terms of their ability to produce agricultural products, the world becomes less safe,” says Howard Buffett, global philanthropist and Illinois farmer.

While much of the world has grown disinterested and weary of the ongoing war, the situation remains dire for those on the ground in Ukraine.

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.

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.

Dairy exporters from Argentina and Uruguay are looking for new dairy markets to offset the loss of the Russian market.

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.

Sanctions caused by the Russian-Ukraine conflict have reduced the energy flow into Europe, limiting natural gas supplies. Here's how it could impact European dairy processors.

Here's how the Russian invasion of Ukraine could also have an impact on the dairy supply chain.

War in Ukraine will accelerate inflation for critical inputs along dairy supply chain.

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.

Several companies around the globe are cutting ties with Russia amid its invasion of Ukraine.

UPDATE: WASHINGTON (AP) - Biden: US ban on Russian oil a 'powerful blow' to 'Putin's war,' warns Americans 'defending freedom is going to cost.'

Futures markets have been very volatile with that volatility possibly increasing. It is necessary to manage risk without locking in a specific price.

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.

Lely recently announced it will immediately cease commercial activities throughout Russia and Belarus.

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.

UPDATE: 03/02 4:23 pm-EST-There are reports a missile struck a vessel flying under the flag of Bangladesh in Ukraine.

"This is my plea, from a humble farmer in Ukraine to the people of the world: Please ask your governments to stop this reckless war, launched by that cruel and power-hungry authoritarian, Vladimir Putin."

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.

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. 

An oil price of $120 a ton could send the global economy into a major recession and fan inflation in the U.S., which Jim Wiesemeyer says is already in double digits for rural Americans.