USDA released its World Agricultural Supply and Demand Estimates (WASDE) report Wednesday, slashing exports from Ukraine as the Russian invasion continues. Though hours before the report was release, Ukraine announced a ban on its own exports of wheat, corn, sunflower oil, oats, rye, barley, sugar and cattle. In the report, USDA lowered Ukraine’s wheat exports by 4 million metric tons. Russia’s wheat exports were also reduced by 3 million metric tons.

Additionally, sizeable cuts were made to Brazil and Argentina’s soybean exports as drought continue to reduce production. The report proved neutral for the U.S. corn and soybean market and slightly bearish for wheat.

Read more on the latest WASDE report with the Russia-Ukraine conflict factors outlined here.