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John Deere, ADM close Ukraine sites amid crisis; WIU professor weighs costs to economy

ADM has more than 600 employees and Deere has about 40 working in Ukraine.

MOLINE, Ill. — Experts predict companies with stakes in the Russia-Ukraine crisis will be impacted as Americans see an increase in costs.

Western Illinois University professor William Polley said he views the Ukraine-Russia crisis unlike anything in the past.

"This is a very unique situation," Polley said.

Polley has been an economics professor for more than 20 years.

"Any military action anywhere in the world increases uncertainty everywhere in the world," Polley said.

He said it's more than just Americans being faced with rise of inflation and a spike at the pump.

"(The conflict) is going to have an affect on commodity prices, wheat prices," Polley said.

Ukraine is one of the largest exporters of agriculture and goods.

"Any company with supply chain ties, anywhere in that region, is potentially going to be affected," Polley said.

RELATED: Black Hawk professor says Russia-Ukraine conflict will impact prices at the pumps

According to Reuters, local food processing company ADM has a location in Ukraine that has shut its doors. The facilities operations consisting of oilseed and grain.

"This is going to affect the supply chains in that region and disrupting the shipment of goods from Ukraine," Polley said.

It also includes John Deere Co. and its offices in Ukraine that are now closed. Multiple Deere training and distribution centers in Russia are still open, as of Thursday.

"I don't feel there's been anything in the last several decades that would be comparable to this," Polley said.   

John Deere officials released this statement to News 8: "We are closely monitoring the developments in these countries and are actively assessing the potential impact to our people."    

"I think it's too early to tell right now just how disruptive this is likely to be," Polley said.

Deere officials said employees in Ukraine were evacuated at the beginning of the year. The offices include its sales department, but there are no factories located in Ukraine.

ADM has more than 600 employees in Ukraine and Deere has about 40.

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