Boris Johnson claims Vladimir Putin’s actions in Ukraine count as war crimes; the Pentagon believes some Russian troops are surrendering and sabotaging their own vehicles. Follow updates here.
The world’s staple grains swung wildly, after hitting multiyear highs as Russia’s invasion Ukraine stifles shipments from some of the biggest suppliers.
“The market is pricing in lost trade coming from the Black Sea region,” Arlan Suderman, chief commodities economist at StoneX, said in a note. “But it hasn’t yet started to factor in a year of lost production from Ukraine.” Crop prices had already been climbing on tight supplies after harvest setbacks and labor shortages. The rally in recent weeks may be enough to send global food costs to a record when the United Nations publishes its latest price index on Thursday.
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