Ukrainian troops with a blood-stained stretcher near the city of Irpin, northwest of Kyiv as war in the country continues. Photo: Dimitar Dilkoff/AFP via Getty ImagesIt is an awkward, but unavoidable truth: the war in Ukraine is proving quite good for business for the world’s top commodities traders.
What we’ve always found is that times of high volatility, high prices and high volume are when we have the opportunity to make the most money. Yes, traders are nimble – they’re finding solutions and absorbing risks that the whole world doesn’t want to take.If the companies were not doing their job of hauling commodities from one place to another, nations would find it much harder to find the necessary resources, from diesel to food, he added.Together, Russia and Ukraine are among the world’s top exporters of wheat, corn and sunflower oil.
ADM has not yet raised its earnings estimate for the year, although some analysts already have. It did say this week that it anticipated 2022 results would exceed those of last year, without going into specifics. Some of the biggest trading units are nestled within the wider business of energy majors, meaning more disclosure of performance. TotalEnergies saw first-quarter profits rise threefold as prices for oil and refining margins surged, while rival Shell has flagged that results for its gas-trading segment “are expected to be higher” than in the fourth quarter.
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