KOSU (NPR) reported in an article that global wheat supplies have been tightened from Russia’s invasion of Ukraine, and now the crop faces a domestic threat: drought in the Great Plains. Senior research fellow Joseph Glauber said, “As far as I know people have been able to find grain. The question is, how much are you willing to pay for it? And I think that for poorer countries that [dry conditions will force harvests down by about 30 percent this year. The supply crunch won’t bring about empty grocery shelves, experts say, but could push up prices slightly for things like bread, pasta and flour] may be an issue. But now that Russia’s cut off Ukrainian exports, Glauber said other countries will have to make up the difference. “You have this buildup in Ukraine so you look at the wheat market and you think, ‘Okay, well, who can make up this grain?” Republished at KCUR (NPR).
War and drought are affecting the world’s wheat supply. That could mean higher prices at the grocery (KOSU – NPR)
June 09, 2022