Ukraine's grain shipments hit a wall in December. Wheat exports dropped nearly 25% as military strikes intensified against port facilities—the country's lifeline for moving commodities to global markets. When one of the world's top grain suppliers gets squeezed, it ripples everywhere: tighter food supplies, inflation pressures spike, central banks adjust course. For traders monitoring macro drivers and inflation expectations, this is the kind of supply shock that reshapes asset correlations across commodities, equities, and beyond.