Loading…
Russia's 2020 wheat crop was the second largest on record, but the government set a 17 million tonne export volume limit and a wheat export tariff of EUR 25/t from February 15, doubled from March 1. Shipments peaked just before the tariff took effect and then fell sharply.
Uncompetitive pricing has added to the slowdown.
State export limits and tariffs reduce Russian wheat supply to world markets, which supports global wheat prices. Importers should expect continued tightness in Black Sea wheat until the policy changes.
ukragroconsult.comMaryna MarynychMar 16, 2021After 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.
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.
