On Wednesday, March 9th, the USDA issued a new World Agriculture Supply and Demand Estimate (WASDE) report. The report provides the latest supply and demand estimates for major commodities from around the world. The report included a note regarding the invasion of Ukraine by Russia which stated the war significantly increased market uncertainty both locally and globally. The report attempted to capture short term impacts of the war.
More below:
https://www.usda.gov/oce/commodity/wasde/wasde0322.pdf
https://www.usda.gov/sites/default/files/documents/march-2022-wasde-lockup-briefing.pdf
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