Ann: FY22 Earnings Guidance, page-72

By all accounts rather than being an outright market shock due to the Russian efforts and massive amounts of grain taken out of the market it will be more of a deck chair shuffling exercise. China will buy Russian instead of North American which frees up supply of North American grain. Other countries that are more price sensitive will probably circumvent sanctions or outright ignore them if that is what it takes to avoid another Arab spring. So yes there will be price increases and GNC will benefit but not the extent a lot of people are thinking. More swings and roundabouts.