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Last week, US President Joe Biden announced a US ban on imports of Russian oil and other energy products
.
The move further exacerbates the status quo for oil prices, which have rallied over the past few weeks and have surpassed $100 a barrel
.
.
The move further exacerbates the status quo for oil prices, which have rallied over the past few weeks and have surpassed $100 a barrel
.
While only a small percentage of food consumed in the U.
S.
is imported from Mexico and Canada, the fallout from the situation in Ukraine "will lead to further increases in food prices that will remain high over the next year,
" the paper said.
S.
is imported from Mexico and Canada, the fallout from the situation in Ukraine "will lead to further increases in food prices that will remain high over the next year,
" the paper said.
Wheat futures have risen 29% since Feb.
25, corn is up 15% and soybeans are up 6%, the paper said
.
25, corn is up 15% and soybeans are up 6%, the paper said
.
"The number one issue right now is energy prices, and then fertilizer prices, because Russia is the second-largest fertilizer supplier," the newspaper reported, citing Syracuse University professor Patrick Penfield
.
.
"American farmers will face cost increases across the board," Penfield said
.
.
