Agricultural Loan ABS Expected to Remain Stable Despite Volatility in Grain Market, Russia-Ukraine Conflict
The grain market has been one of the most troubled during the ongoing Russia-Ukraine conflict, as transportation or financial issues have stressed agricultural exports out of both countries. According to the Food and Agriculture Organization, both countries fall in the top 10 countries for wheat production, with Russia ranking third, behind China and India. Within the shifting situation is a possibility that additional sanctions may be placed on Russian goods, including food. If this takes place, Russia may retaliate by limiting its own exports, including agricultural goods. Nonetheless, the credit impact from the Russian invasion of Ukraine on agriculture production loan asset-backed securities has been limited to date.
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