- Corn prices are rising quite meaningfully with lots of Ukraine exports never having made it to the market.
- Major port cities will likely eventually end under Russian control, so the exports will not make it to the western trading bloc.
- With other grain prices increasing too, most notably wheat, but acreage already at its limits, we could see a protracted input cost problem for Ingredion.
- The stock price is already trading off highs, and while we'll see a continued recovery in their Mexican exposures and brewery exposures, the price well reflects the commodity issue.
For further details see:
Grain Price Increases Mean A Bad Time For Ingredion