{"id":27308,"date":"2023-06-25T14:33:57","date_gmt":"2023-06-25T18:33:57","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/russias-wagner-group-pullback-wont-deflate-commodities-prices\/"},"modified":"2023-06-25T14:33:58","modified_gmt":"2023-06-25T18:33:58","slug":"russias-wagner-group-pullback-wont-deflate-commodities-prices","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=27308","title":{"rendered":"Russia\u2019s Wagner Group Pullback Won\u2019t Deflate Commodities Prices"},"content":{"rendered":"<div>\n<p>The tumult in Russia this weekend won\u2019t send prices for energy and food down much further, according to a recent report from Academy Securities.<\/p>\n<p>The issue is that while the attempted on-off coup by mercenary force Wagner Group to oust Russian President has likely weakened Vladimir Putin. While that may speed up the path to peace, other things have changed dramatically over the last year and a half.<\/p>\n<p>The Academy report states the following:<\/p>\n<ul>\n<li>\u201cWe are probably the closest we\u2019ve been to seeing a defined path to peace since the invasion occurred, but its impact on markets will be muted as the world has changed a lot in the past 18 months.\u201d<\/li>\n<\/ul>\n<p>Friday and Saturday it looked like the Wagner Group, a Russian mercenary group that was previously loyal to Putin, would attempt to take control, of Moscow using its military power. Lucky for Putin a deal got cut with Wagner\u2019s leader on Saturday. It resulted in the well-armed mercenaries backing off.<\/p>\n<p>But perhaps more important, it weakened Putin\u2019s political power. What happens next doesn\u2019t necessarily mean peace will break out in the imminent future. \u201cThere is some small risk that this all gets worse before it gets better,\u201d the Academy report states. \u201c<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>For investors the key thing is what happens when or if Russia and Ukraine sign a peace treaty.<\/p>\n<p>The outbreak of the war, which started on February 24, 2022, commodities prices in the energy and food sectors quickly surged to eye-popping levels. However, since then prices have retreated back considerably.<\/p>\n<p>Academy explains:<\/p>\n<ul>\n<li>\u201cRussia has found new buyers of its commodities and seems unlikely (or even unable) to return to selling cheap fuel to Germany and the rest of Europe rather than to China (and India.)\u201d<\/li>\n<\/ul>\n<p>In any event, many but not all prices are now near normal. In other words, there\u2019s not much further that they can fall. For instance, Brent crude oil recently fetched $74 a barrel down from near $120 late last year, according to TradingEconomics. That\u2019s around the high-end of the normal range.<\/p>\n<p>By contrast wheat, 28% of which comes from Russia and Ukraine, fetched $7.33 a bushel last Friday down from close to $12 in May 2022. That\u2019s lower than it was, but still relatively elevated compared to the sub $5 level wheat prices languished for most of the last decade.<\/p>\n<p>If peace does manage to emerge from Putin\u2019s weakness, or via any other route, then there will likely be some commodities, such as wheat, seeing a slight dip. But don\u2019t expect your gasoline costs to come down too much, if at all.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/simonconstable\/2023\/06\/25\/russias-wagner-group-pullback-wont-deflate-commodities-prices\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tumult in Russia this weekend won\u2019t send prices for energy and food down much further, according to a recent report from Academy Securities. The issue is that while the attempted on-off coup by mercenary force Wagner Group to oust Russian President has likely weakened Vladimir Putin. While that may speed up the path to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":27309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-27308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Russia\u2019s Wagner Group Pullback Won\u2019t Deflate Commodities Prices | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The tumult in Russia this weekend won\u2019t send prices for energy and food down much further, according to a recent report from Academy Securities. 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