Later, I was googling stuff about Ukraine when I came across this article on barley trade. This set off some bells ringing related to crop futures (esp Corn/Wheat) as recently there has been "promotions' of CORN ETFs on Yahoo Finance's Breakout. (Corn could be the next silver. Really, I knew that people used corn to adorn themselves, but seriously!).
Anyhow, I had been recently thinking about doing some option trades on CORN or MOO, and wondered how the entry of Ukraine/Russia back into export market would affect grain future prices. In the big picture, it is good for companies that buy raw material and sell finished products. Once they raise prices, they don't lower them much, so it might be more fun to trade the likes of ADM BG etc.
Disclosure: No positions in anything mentioned here. I might initiate some long position in BG after some research. Their earnings were good!
My own feeling is the Commodity futures definitely are not something for the small investor/trader. The big players have it cornered really well so that anybody small would only get hurt if they try to trade. oh well. another day, another story.