Russia Extends Zero Wheat Export Duties, Pressuring Black Sea and Polish Grain Prices

After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.

• Sep 2, 2026Russia Pauses Grain Export Duty as Black Sea Exports Stall (2)+0.7%
• Jan 1, 2026Russia Boosts Late Season Grain Export Quota as Prices Pick Up+0.7%
• Oct 15, 2019Granaries overflowing, Food dept’s SOS to MEA: Send wheat, rice as aid to deserving countries | India News - The Indian Express-1.3%
• Jul 3, 2022Arab News | Commodities Update — Gold prices fall; Indonesia to raise palm oil export quota; Russia reduces grain export taxes-5.4%
• Nov 10, 2017India's wheat import tariff weighs on prices for Black+0.9%

Not enough comparable past events yet for a historical read.

After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.

• Sep 2, 2026Russia Pauses Grain Export Duty as Black Sea Exports Stall (2)-1.1%
• Jan 1, 2026Russia Boosts Late Season Grain Export Quota as Prices Pick Up+0.6%
• Feb 26, 2025Grains and Cattle End Lower: What’s Pressuring Markets Beyond Tariff Uncertainty?-6.0%
• Dec 15, 2021The Government reduces export duties on some agro-industrial products to zero-3.5%
• Dec 9, 2025Milei Is Cutting Export Taxes on Argentine Soy, Corn and Wheat - Bloomberg+0.1%