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State-owned VTB bank asked President Putin, in a letter dated June 26, to back a plan to create a Russian grain champion. The plan would give the state more control over grain exports and reduce the role of foreign traders such as Glencore, Cargill and Louis Dreyfus.
Putin's handwritten notes on the letter told the government to consider the proposal.
Greater state control over Russian grain exports could alter export volumes and timing, adding uncertainty to Black Sea wheat supply and possibly supporting world wheat prices.
themoscowtimes.comReutersAug 23, 2019After 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.
