Several commodity markets are starting to experience a risk of global supply chain hindrance due to growing tension between Russia and Ukraine. There is still plenty of uncertainty over how the situation will evolve, but it is still worthwhile to look at the potential impact on international trade as prices of several commodities including crude oil, metals, semiconductors, and food supplies have already been shot up. A risk to Russian natural gas flows via Ukraine to Europe arises if Russia invades Ukraine. While, depending on the scale of any invasion, it could also potentially have an impact on the production and export of Ukrainian agricultural commodities, including corn and wheat. Let’s discuss how the Russia-Ukraine conflict may impact the global