# Daily Market Wire 5 February 2021 - Grain Central

> Chicago, Kansas and Minneapolis wheat March contracts fell between 3 and 11 cents per bushel, while corn slipped 2 cents and soybeans rose slightly. Russia formally announced its new-season export tax, a 70% levy over a FOB threshold set at US$200/t for wheat and $185/t for barley, based on a government benchmark. Weekly US export sales included 7.4Mt of corn, 0.8Mt of soybeans and 0.6Mt of wheat.

- Date: 2021-02-05 · published 2021-02-05T12:00:00.000Z
- Category: policy · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/9448-daily-market-wire-5-february-2021-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The Russian export tax formalizes a levy already expected by the market, so its impact on Black Sea export competitiveness is largely priced in. Solid US corn export sales provide some underlying support for corn.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-02-05 | 5 | -6.7% | -3.6 | Wheat contracts fell 3-11 cents on Feb 5 while Russia formalized a 70% export tax and weekly wheat export sales were modest (0.6Mt), keeping sentiment bearish. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-05-31 | [Grain market review: Oilseeds May 2021](https://feedsoft.ai/events/47204-grain-market-review-oilseeds-may-2021.md) | -2.0% | -3.9% |
| WHEAT | 2019-01-18 | [Grain market week in review – Jan. 18, 2019](https://feedsoft.ai/events/7655-grain-market-week-in-review-jan-18-2019.md) | +3.4% | +2.2% |
| WHEAT | 2025-09-16 | [Grain markets react to Russian export duty news: Grain market daily \| AHDB](https://feedsoft.ai/events/7573-grain-markets-react-to-russian-export-duty-news-grain-market-daily-ahdb.md) | +0.3% | +1.5% |
| WHEAT | 2020-06-24 | [How would a Russian quota affect your wheat price? Grain Market Daily \| AHDB](https://feedsoft.ai/events/52648-how-would-a-russian-quota-affect-your-wheat-price-grain-market-daily-ahdb.md) | +0.3% | -5.4% |
| WHEAT | 2017-08-19 | [Centre rejigging foodgrain inventory management](https://feedsoft.ai/events/69407-centre-rejigging-foodgrain-inventory-management.md) | -3.4% | +3.6% |
| KWHEAT | 2020-06-24 | [How would a Russian quota affect your wheat price? Grain Market Daily \| AHDB](https://feedsoft.ai/events/52648-how-would-a-russian-quota-affect-your-wheat-price-grain-market-daily-ahdb.md) | +0.1% | +3.1% |
| KWHEAT | 2024-10-31 | [Russia’s tacit grain export curbs cause market confusion](https://feedsoft.ai/events/27901-russia-s-tacit-grain-export-curbs-cause-market-confusion.md) | -0.3% | -8.6% |
| KWHEAT | 2024-06-01 | [Russia Clinches More Grain Control Just as Wheat Prices Spike](https://feedsoft.ai/events/14305-russia-clinches-more-grain-control-just-as-wheat-prices-spike.md) | -6.1% | -15.0% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-5-february-21/

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