# The Invasion of Ukraine is Accelerating the Supercycle in Commodities | Goldman Sachs

> Goldman Sachs says the Russia-Ukraine war is the largest commodity market upheaval since the 1973 oil embargo, affecting grains, oil, gas, metals and other inputs. The energy shock is most acute in Europe, which relies heavily on Russian exports. Goldman expects a buyer boycott and a decoupling between Russia and the West to shape supply chains.

- Date: 2022-03-17 · published 2022-03-17T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9948-the-invasion-of-ukraine-is-accelerating-the-supercycle-in-commodities-goldman
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Sanctions and the physical decoupling from Russia tighten supply across energy and agricultural inputs, supporting higher prices for grains and energy. Feed producers should expect elevated input costs as these supply chains reconfigure.

## Read by commodity

- WTI: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-02-23 | [Impact of Russia-Ukraine on supply chains: food, metals, commodities](https://feedsoft.ai/events/42750-impact-of-russia-ukraine-on-supply-chains-food-metals-commodities.md) | +7.5% | +12.7% |
| CORN | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.5% | +12.3% |
| CORN | 2022-03-11 | [Overcoming the threats to global food systems from Russia's invasion of Ukraine \| IFPRI](https://feedsoft.ai/events/11340-overcoming-the-threats-to-global-food-systems-from-russia-s-invasion-of-ukraine.md) | +2.7% | +9.8% |
| CORN | 2022-05-01 | [Ukraine Is Sitting on 15 Million Tons of Grain it Can't Move](https://feedsoft.ai/events/14499-ukraine-is-sitting-on-15-million-tons-of-grain-it-can-t-move.md) | -8.1% | -2.4% |
| CORN | 2022-02-24 | [Ukraine Invasion Threatens Global Wheat Supply](https://feedsoft.ai/events/6311-ukraine-invasion-threatens-global-wheat-supply.md) | +6.5% | +12.3% |
| WHEAT | 2023-08-07 | [The Commodities Feed: Russia-Ukraine tensions add to oil supply risks \| articles \| ING THINK](https://feedsoft.ai/events/34496-the-commodities-feed-russia-ukraine-tensions-add-to-oil-supply-risks-articles.md) | +0.5% | -6.9% |
| WHEAT | 2022-03-23 | [How Russia's invasion of Ukraine rocked commodity markets](https://feedsoft.ai/events/6242-how-russia-s-invasion-of-ukraine-rocked-commodity-markets.md) | +1.3% | -9.2% |
| WHEAT | 2022-02-24 | [Ukraine crisis: commodities prices surge as stock markets slump \| Commodities \| The Guardian](https://feedsoft.ai/events/6312-ukraine-crisis-commodities-prices-surge-as-stock-markets-slump-commodities-the.md) | +6.8% | +25.3% |

## Sources

- goldmansachs.com: https://www.goldmansachs.com/insights/articles/from-briefings-17-march-2022

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.