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Russia has set a recommended de facto price floor of $250 per metric ton on a free-on-board basis for wheat sold in international tenders, according to sources. The move aims to curb exports that had been flowing at high volumes as domestic inflation runs near 9%.
A minimum export price limits how cheaply Russian wheat can be sold abroad, reducing export competition and supporting global wheat prices.
reuters.comOlga PopovaOct 11, 2024After 182 past bullish policy events, Wheat (SRW) 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, Wheat (HRW) 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.
