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Russia's agriculture ministry proposed limiting grain exports to 7 million tonnes for April-June 2020 across wheat, rye, barley and corn. Traders said the cap is roughly in line with expected exports through June, but it raises the prospect of further restrictions.
Ukraine said it is monitoring wheat exports daily.
A Russian export quota, the world's largest wheat exporter, signals possible tighter Black Sea supply and could lift wheat, corn and barley prices if extended. The immediate volume impact is small because the cap roughly matches expected shipments.
esmmagazine.comDayeeta DasMar 27, 2020After 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.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
