At MarketWatch: Why Ukraine and Russia matter to commodity markets
Why Ukraine and Russia matter to commodity markets
By Myra P. Saefong, MarketWatch
Oil, gold and wheat prices are in the limelight after Russia’s invasion of Ukraine’s Crimea region, but the conflict may have significant consequences for other commodities too — including natural gas, palladium and potash.
“Ukraine is known as the breadbasket of Eastern Europe and is one of the largest exporters of grain in the world, of which wheat exports would be the largest agricultural commodity impacted by an escalating conflict between Kiev and Moscow,” said Edmund Moy, who spent time in Ukraine and lectured at Kiev University.
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