04.
09.18
05:08

Russia does not plan export restrictions for wheat

CBoT wheat futures prices fall 1.4% this morning. The reason for this is the statement of the Russian Ministry of Agriculture that there are no plans to limit wheat exports.
There is no reason for that, the minister said yesterday after talks with exporters. Neither an export tax nor any other form of export restriction is planned.
Commodity traders in Asia comment this morning: Last year, the Russian Erne was so big and this year it has still been decent, which is why Russian wheat is still the cheapest in the world.
In addition, exports from Europe and the US are not doing well at all.
In Argentina, however, farmers are delaying the sale of their wheat crops and they also want to grow less corn after the government wants to levy a 10% export tariff there to limit the national debt and depreciation of the peso. Graphic: Saxo-Trader

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