(Reuters) -Archer-Daniels-Midland Co on Tuesday reported a 53% jump in first-quarter profit, as the global grain trader was helped by higher demand and tight supplies of crops.

The increased demand from grain traders around the globe for the crops that they export has resulted in a rise in the number of grains merchants. This is despite the fact that shipments to the Black Sea breadbasket have been cut off by the Russia-Ukraine War.

They supply approximately 29% world wheat exports. That’s a fifth globally traded corn, and they also provide around 80% sunflower oil.

After food commodity prices rose, ADM saw its stock rise 33.5% in the first quarter. This made ADM the 19th largest gainer.

Juan Luciano, chief executive officer, said that we are expecting reduced crop supply in the future, due to the weakness of the Canadian canola crop and the short South American harvests. “This will continue to cause tightness on global grain markets in the coming years,” he stated in a statement.

ADM earned $1.05B, or $1.86, per share in the three-months ended March 31, as compared to $689M, or 1.22 per share a year earlier.