# Wheat holds near 6-1/2 year peak as focus stays on Russian export tax - Markets - Business Recorder

> Chicago wheat neared a 6-1/2 year high on January 19, 2021, with the most-active contract up 1.6% at $6.86-1/2 a bushel. Russia's plan to tax wheat exports at 50 euros a tonne from March to June, with a 25 euro levy from February 15 and a levy kept for next season, continued to keep global supply uncertain. Corn held near a 7-1/2 year high while Ukraine debated export limits.

- Date: 2021-01-19 · published 2021-01-19T12:00:00.000Z
- Category: policy · region Russia · magnitude high
- Page: https://feedsoft.ai/events/49175-wheat-holds-near-6-1-2-year-peak-as-focus-stays-on-russian-export-tax-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Russian export taxes and possible Ukrainian export caps reduce expected global wheat and corn availability, supporting prices for feed grain buyers. Tighter exporter supply tends to lift wheat and corn values and substitution demand for feed alternatives.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-10 | [Palm rises as Indonesia expands export permit requirements - Markets - Business Recorder](https://feedsoft.ai/events/15843-palm-rises-as-indonesia-expands-export-permit-requirements-markets-business.md) | +0.3% | +16.6% |
| WHEAT | 2021-02-01 | [Wheat down 3-4 cents, corn up 1-3 cents, soy down 4-5 cents - Markets - Business Recorder](https://feedsoft.ai/events/5824-wheat-down-3-4-cents-corn-up-1-3-cents-soy-down-4-5-cents-markets-business.md) | -10.0% | -0.8% |
| WHEAT | 2021-02-04 | [News Archives for Markets - 2021-02-04 - Business Recorder](https://feedsoft.ai/events/9449-news-archives-for-markets-2021-02-04-business-recorder.md) | -0.2% | +11.9% |
| WHEAT | 2023-12-21 | [India's agri exports may stay flat in FY24 due to ban on wheat, rice, sugar \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/32644-india-s-agri-exports-may-stay-flat-in-fy24-due-to-ban-on-wheat-rice-sugar.md) | +0.7% | +1.5% |
| WHEAT | 2020-01-29 | [Russian wheat export forecast cut on weak pace and low crop - The Sizov Report blog](https://feedsoft.ai/events/54924-russian-wheat-export-forecast-cut-on-weak-pace-and-low-crop-the-sizov-report.md) | -0.4% | +2.9% |
| KWHEAT | 2022-05-16 | [Explainer: What India's u-turn on wheat exports means for world markets](https://feedsoft.ai/events/41430-explainer-what-india-s-u-turn-on-wheat-exports-means-for-world-markets.md) | 0.0% | -7.3% |
| 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 | 2016-12-10 | [Scrapping wheat import duty may hit farmers hard \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/73452-scrapping-wheat-import-duty-may-hit-farmers-hard-economy-and-policy-news.md) | +4.9% | +10.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40053408

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