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The European Commission has announced a €500 million support package to help European Union farmers most affected by the war in Ukraine.

The Russian offensive into Ukraine has increased the supply risk for grain markets. Ukraine stopped activities in its ports after Russia launched a military operation. Russia has also suspended the movement of commercial ships in the Sea of Azov until further notice. Prices for grains rose amid concern that the conflict could hit exports from the Black Sea to world markets.

May is a key month for new crop forecasts, as exactly in this month the USDA gathers all local ex...