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War to cut Ukraine and Russia wheat exports by 12%

The Russian invasion of Ukraine will slash wheat exports from the countries by a combined 12%, said the Agriculture Department on Wednesday in an initial assessment of the short-term impact of the war. Nations from Europe to Asia and Africa will import somewhat less wheat in coming months in the face of higher prices and reduced supplies from the Black Sea region, it said. Russia and Ukraine are ordinarily among the largest wheat exporting nations. USDA analysts said exports from the two countries would fall to a combined 52 million tonnes this marketing year, down by 7 million tonnes from their estimate before the invasion. The reduction would be partially offset by Australia and India, which have ample supplies to sell. U.S. wheat sales have been weaker than expected and would be nearly one-fifth smaller than last year, said the USDA.