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Urkraine’s Farmers Hold Tight To Grain Supplies

Photo: clipart.com

Spencer, IA: (Mar. 06, 2014) – The U.S. Grains Council says Ukrainian farmers are holding on to grain to protect themselves against declines in that country’s currency amid tensions with Russia, making exports from its Black Sea ports “increasingly difficult.”

A Grains Council regional director says ports have remained open during Russia’s military incursion into Ukaraine’s Crimea region and “vessels are loading.” However, he said shipments are becoming more difficult as local farmers hold grain as a hedge against a devaluing currency.

The Washington-based trade groups says slowed exports from Ukraine, a major wheat and corn exporter, could mean lead to more demand for U.S. crops.

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