# Russian wheat prices jump to highest since June on falling supply | S&P Global

> 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.

- Date: 2025-01-30 · published 2025-01-30T12:00:00.000Z
- Category: policy · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/26558-russian-wheat-prices-jump-to-highest-since-june-on-falling-supply-s-and-p-global
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

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.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-06-01 | [Russia Clinches More Grain Control Just as Wheat Prices Spike](https://feedsoft.ai/events/14305-russia-clinches-more-grain-control-just-as-wheat-prices-spike.md) | -5.6% | -12.3% |
| WHEAT | 2020-10-26 | [Russian wheat prices rise amid dry weather, high demand \| Financial Post](https://feedsoft.ai/events/50679-russian-wheat-prices-rise-amid-dry-weather-high-demand-financial-post.md) | -0.9% | -5.0% |
| WHEAT | 2023-04-21 | [Russian wheat trade falls silent as price floor leaves market 'broken'](https://feedsoft.ai/events/36463-russian-wheat-trade-falls-silent-as-price-floor-leaves-market-broken.md) | -8.6% | -9.9% |
| WHEAT | 2022-05-17 | [Global Wheat Prices Outlook For Australian Growers](https://feedsoft.ai/events/41375-global-wheat-prices-outlook-for-australian-growers.md) | -2.8% | -3.7% |
| WHEAT | 2023-08-15 | [Why India is trying to tame rising wheat prices](https://feedsoft.ai/events/34534-why-india-is-trying-to-tame-rising-wheat-prices.md) | -2.3% | -4.9% |
| KWHEAT | 2024-06-01 | [Russia Clinches More Grain Control Just as Wheat Prices Spike](https://feedsoft.ai/events/14305-russia-clinches-more-grain-control-just-as-wheat-prices-spike.md) | -6.1% | -15.0% |
| KWHEAT | 2023-04-21 | [Russian wheat trade falls silent as price floor leaves market 'broken'](https://feedsoft.ai/events/36463-russian-wheat-trade-falls-silent-as-price-floor-leaves-market-broken.md) | -7.3% | +2.0% |
| KWHEAT | 2022-05-17 | [Global Wheat Prices Outlook For Australian Growers](https://feedsoft.ai/events/41375-global-wheat-prices-outlook-for-australian-growers.md) | -5.6% | -15.5% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/013025-russian-wheat-prices-jump-to-highest-since-june-on-falling-supply

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