News & Publications

News & Publications

June 27, 2023 | Ryan Fogel

Geopolitical risk in grain marketing

Geopolitical risk in grain marketing

Last week nobody was talking about Yevgeny Prigozhin and his Private Military Company, Wagner. This week saw grain markets trading higher after the armored convoy of mercenaries marched 400 miles into Russia, stopping only 125 miles from Moscow. 

The massive convoy full of ex-special forces soldiers, tanks and armored vehicles rolled largely unopposed through military checkpoints and blockades. The convoy shot down seven Russian aircrafts before a ceasefire could be negotiated.

Nobody expects a 25,000-strong private army to leave the frontlines of a war and march hundreds of miles toward the Kremlin. The catalyst to the weekend’s events was when Wagner forces were hit by Russian missiles. But tensions had reached a boiling point.

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