This morning, CBoT wheat prices continue to rise, almost reaching a 1 ½ - year high. Russia's export potential is now being restricted by the government in Moscow.
Traders in Far East Asia are commenting this morning that this will restrict supply on the world market once again. Egypt is probably also prepared to invest more money in its tenders to buy wheat for this reason.
Moscow wants to set a duty-free quota for 20 million tons of wheat exports in the period from January to June 2020. Exports are also to be restricted later in the year, when the largest exports usually take place.
Exporters in the USA are now expecting better opportunities for wheat exports.
Source
HANSA Terminhandel
