The conflict between Russia and Ukraine, the world's major food producers, has escalated sharply recently, leading to severe shocks in the global agricultural market. Analysts believe that as the conflict between Russia and Ukraine continues and Western countries impose sanctions on Russia, global agricultural prices may continue to fluctuate and rise. On the 24th, the futures price of agricultural products rose sharply on the Chicago futures exchange. The closing price of may contract with the most active trading in the corn market rose by 1.32% compared with the previous trading day, while the closing price of wheat contract in May rose by 5.65%; On the 25th, the market tension once eased, and the futures price of agricultural products in the exchange fell sharply. The closing price of corn contract in May fell by 5%, wheat contract in May fell by 8.02%, and soybean contract in may also closed by 4.2%. As of February 23, the futures price of wheat on the Chicago Futures Exchange has increased by about 12% this year, and the futures price of corn has increased by 14.5% over the same period, indicating that the level of food inflation has been in an upward channel. Chicago agricultural resources company believes that there is great uncertainty in geopolitics and international trade. It is still unknown how the conflict between Russia and Ukraine will affect global food flows and prices. The sharp shock trend of agricultural products market may last until this summer. The global agricultural market is extremely sensitive to food supply. At the beginning of the year, the U.S. Department of agriculture predicted that the agricultural products exported by Ukraine in 2022 will account for 16% of global corn exports and 12% of global wheat exports. At present, there is uncertainty about whether Ukraine can normally carry out spring fertilization and winter wheat harvest. What makes the market more worried is that Ukraine will start corn sowing in three weeks. If the conflict continues at that time, Ukrainian farmers may be forced to reduce or even interrupt crop spring sowing. In an interview with NBC business channel, dawn Chula, President of American purchasing industry group, said that if the conflict between Russia and Ukraine continues, not only the food security in Europe, which regards Ukraine as a "granary", but also many countries in the Middle East and Africa will be affected. In early February, Rabobank assessed the possible impact of the conflict between Russia and Ukraine on food prices: once the conflict breaks out, wheat prices will rise by 30% and corn prices will rise by 20%. If Western sanctions against Russia are effective, the situation of the global food, vegetable oil and fertilizer market will be "worse". Further research by the agency shows that if Western countries still impose sanctions on Russia at the beginning of the crop harvest season in July, it will seriously affect the global food supply and push up food prices. By then, the price of wheat may double and the price of corn will rise by 30%. According to the observation of analysts of Netherlands International Group, under the situation of intensified conflict between Russia and Ukraine and great uncertainty in the supply of Russian agricultural products in the coming months, some traders have begun to hoard food and reduce exports. Regardless of geopolitical risk factors, the agricultural products market in 2022 will also be affected by factors such as the continuous decline of crop production in South America, the adverse weather conditions in the American plain or the reduction of crop production, and the increase in global demand for agricultural products. Accordingly, many analysts believe that in the long run, the agricultural product market still presents a structural bull market. (Xinhua News Agency)