# Wheat price rally fuelled by Russia - Grain Central

> CBOT wheat for December has risen about A$40/t since early August as the market has steadily strengthened. Russian farmers are planting winter wheat into dry conditions, and Russian officials have hinted at possible wheat export quotas.

- Date: 2020-10-08 · published 2020-10-08T12:00:00.000Z
- Category: weather · region Russia · magnitude medium
- Page: https://feedsoft.ai/events/11635-wheat-price-rally-fuelled-by-russia-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Russia is the largest wheat exporter, so dryness and potential export quotas tighten global wheat supply and support export prices. Australian basis has narrowed as a result.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-06-15 | [Feed grain update: Prices rally in June - Grain Central](https://feedsoft.ai/events/70605-feed-grain-update-prices-rally-in-june-grain-central.md) | +0.4% | +0.4% |
| WHEAT | 2018-03-02 | [Wheat futures surge - Grain Central](https://feedsoft.ai/events/12430-wheat-futures-surge-grain-central.md) | +0.5% | -0.4% |
| WHEAT | 2020-07-30 | [Russian Wheat Export Tax Boosts Grain Prices](https://feedsoft.ai/events/52024-russian-wheat-export-tax-boosts-grain-prices.md) | -1.5% | +0.4% |
| WHEAT | 2017-08-08 | [Wheat production forecast down: NAB - Grain Central](https://feedsoft.ai/events/69415-wheat-production-forecast-down-nab-grain-central.md) | +0.5% | -0.8% |
| WHEAT | 2020-01-21 | [Wheat export pace solid, barley lags - Grain Central](https://feedsoft.ai/events/55028-wheat-export-pace-solid-barley-lags-grain-central.md) | -4.1% | -0.6% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/wheat-price-rally-points-to-russia/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.