Markets were very active in overnight trade this morning after news of a Russian attack on Ukraine. Some are calling it the darkest hours since World War 2.
Mike North, Principal with EverAg in Platteville, says the US will be relied on more for exports of commodities, especially by countries that rely on Ukraine for grain. He says this is why wheat and corn have skyrocketed today – other countries are now looking at the US as one of, if not the only, source of these commodities.
He says this will eventually increase the cost of feed on diaries across the state and country because there are now more people competing for the same finite supply.
Prices this high were seen last year, and although they are familiar, he says they are also very rare.