Aug 20, 2018

Russia May Curb Wheat Exports

Ministry met with grain exporters to discuss export volumes of grains

Russia’s agriculture ministry said it held a meeting on Friday with grain exporters to discuss export volumes of grains.

Reutersreports traders, including some who were at the meeting, said the ministry will consider curbing 2018/19 exports once they reach 30 million tonnes following a request from meat producing regions, but added no decision had been made about how this might be implemented.

The ministry, however, said it did not discuss curbs on grain exports at the meeting.

Chicago wheat rose sharply after the news, as the U.S. and the European Union would be among countries to gain from any eventual curbs.

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Marketwatch: Jul, 05

US Corn Price Idx:ZCPAUS.CM

open: 7.0534
high: 7.0536
low: 7.0522
close: 7.0522

US Soybean Price Idx:ZSPAUS.CM

open: 15.3606
high: 15.3675
low: 15.3604
close: 15.3647

US Hard Red Winter Wheat Price Idx:KEPAUS.CM

open: 8.6183
high: 8.6227
low: 8.6183
close: 8.6218

US Soft Red Winter Wheat Price Idx:ZWPAUS.CM

open: 7.8093
high: 7.8093
low: 7.8093
close: 7.8093