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About half of the at least 17 countries that restricted food exports during the coronavirus outbreak have eased or lifted those measures, according to the IFPRI tracker. Russia has kept its curbs and has not ruled out new quotas.
Officials say global reserves are ample.
Easing export restrictions returns supply to the world market and reduces the risk premium in grain prices. Russia's retained curbs are the main upside risk if a poor harvest or weather problem emerges.
airfreight.newsBloombergMay 5, 2020After 122 past bearish policy events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
