With exports disrupted, the US and other nations will see higher prices and shortages Russia’s war on Ukraine has magnified inflationary shockwaves across the U.S. and the world, including startling price increases for gasoline, oil – and food. Though it's too early to predict how much prices will rise, the cost of corn, barley and other grains is higher. Cooking oil prices, from sunflower to cottenseed, have skyrocketed. Fertilizer costs are up. Grain-carrying ships have been blocked from ports. But it's wheat – a third of which the world imports from Russia and Ukraine – that could cause some of the biggest ripples in world food markets.