# Russian wheat trade falls silent as price floor leaves market 'broken'

> Russian wheat trade has nearly stopped because an unofficial $275/t FOB price floor has left the market broken, with the lowest competitive offer at that level since late March. Traders say the government may withhold phytosanitary certificates from sellers below the floor, and some sellers are shipping cargoes themselves to hide low prices in freight.

- Date: 2023-04-21 · published 2023-04-21T12:00:00.000Z
- Category: policy · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/36463-russian-wheat-trade-falls-silent-as-price-floor-leaves-market-broken
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Reduced Russian export volume tightens supply to importers and supports global wheat prices, though it also reflects state intervention that adds uncertainty to Black Sea pricing.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-06-24 | [How would a Russian quota affect your wheat price? Grain Market Daily \| AHDB](https://feedsoft.ai/events/52648-how-would-a-russian-quota-affect-your-wheat-price-grain-market-daily-ahdb.md) | +0.3% | -5.4% |
| WHEAT | 2025-01-30 | [Russian wheat prices jump to highest since June on falling supply \| S&P Global](https://feedsoft.ai/events/26558-russian-wheat-prices-jump-to-highest-since-june-on-falling-supply-s-and-p-global.md) | -0.1% | +0.6% |
| WHEAT | 2024-10-11 | [Exclusive: Russia sets price floor for wheat at international tenders, sources say](https://feedsoft.ai/events/27907-exclusive-russia-sets-price-floor-for-wheat-at-international-tenders-sources-say.md) | -0.5% | -1.5% |
| 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 | 2021-01-19 | [Wheat holds near 6-1/2 year peak as focus stays on Russian export tax - Markets - Business Recorder](https://feedsoft.ai/events/49175-wheat-holds-near-6-1-2-year-peak-as-focus-stays-on-russian-export-tax-markets.md) | +3.5% | +2.0% |
| KWHEAT | 2020-06-24 | [How would a Russian quota affect your wheat price? Grain Market Daily \| AHDB](https://feedsoft.ai/events/52648-how-would-a-russian-quota-affect-your-wheat-price-grain-market-daily-ahdb.md) | +0.1% | +3.1% |
| KWHEAT | 2025-01-30 | [Russian wheat prices jump to highest since June on falling supply \| S&P Global](https://feedsoft.ai/events/26558-russian-wheat-prices-jump-to-highest-since-june-on-falling-supply-s-and-p-global.md) | +2.0% | -1.6% |
| KWHEAT | 2024-10-11 | [Exclusive: Russia sets price floor for wheat at international tenders, sources say](https://feedsoft.ai/events/27907-exclusive-russia-sets-price-floor-for-wheat-at-international-tenders-sources-say.md) | -2.5% | -6.9% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/042123-russian-wheat-trade-falls-silent-as-price-floor-leaves-market-broken

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