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Russian wheat prices rose to their highest since June after supply tightened. Russia will impose an export quota of about 10.6 million mt from Feb.
15 through June 30, and a higher variable export tax took effect Jan. 29.
Platts assessed FOB Russian wheat at $243/mt on Jan. 30.
The export quota and tax cut Russian shipments sharply, removing a major low-cost supplier from world markets and supporting global wheat prices. Buyers should expect firmer offers from Black Sea origins.
spglobal.comVivian IroanyaJan 30, 2025After 182 past bullish policy events, WHEAT moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 37 past bullish policy events, KWHEAT moved a median -0.1% over 5 sessions (41% higher; middle half -3.4% to +2.0%), and -3.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
