Agrarticker's daily roundup reports that Russia is raising its grain export tax, alongside items on weaker grain prices after the US midterm elections and falling crude oil. It also notes a grain harvest surge in Ukraine caused by intensified Russian attacks on logistics infrastructure, and first freighters passing the Kerch Strait as Ukraine-Russia sectoral ceasefire talks continue.
A higher Russian export tax reduces farm-gate returns and can curb Russian wheat offers, supporting prices, while Ukrainian export disruptions and crude weakness pull in opposite directions.
After 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 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% 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.