Loading…
Russian wheat export prices rose for the seventh consecutive week, tracking gains in Chicago and Paris, according to IKAR. Russian 12.5% protein wheat was quoted at $299 per tonne FOB, up $4 on the week.
Russia's state export tax is set to rise sharply from September 1, and exports sped up ahead of it.
Rising Russian export prices and a higher export tax reduce the competitiveness of Black Sea wheat and support global wheat values. Buyers may face firmer offers from the world's largest wheat exporter.
brecorder.comReutersAug 30, 2021After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
