# News Archives for Markets - 2021-02-04 - Business Recorder

> Corn slipped after reaching a 7.5-year high, supported by Chinese demand, while CBOT soybeans gained slightly and wheat fell 12.5 cents. Russia will introduce a formula-based wheat export tax starting June 2, applying also to barley and corn exports. The US Agriculture Department reported weekly wheat export sales of 736,600 tonnes.

- Date: 2021-02-04 · published 2021-02-04T12:00:00.000Z
- Category: policy · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/9449-news-archives-for-markets-2021-02-04-business-recorder
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A permanent Russian export tax on wheat, barley and corn can raise Black Sea export prices and tighten global supply, supporting feed grain prices. Strong Chinese demand also underpins corn.

## Read by commodity

- SOY: neutral
- CORN: bullish ▲
- WHEAT: bullish ▲
- BARLEY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-02-05 | 5 | -6.7% | -3.6 | Wheat fell 12.5 cents on Feb 4 as Russia's formula-based export tax details emerged and US export sales were only moderate, adding to selling pressure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-02-01 | [Wheat down 3-4 cents, corn up 1-3 cents, soy down 4-5 cents - Markets - Business Recorder](https://feedsoft.ai/events/5824-wheat-down-3-4-cents-corn-up-1-3-cents-soy-down-4-5-cents-markets-business.md) | -10.0% | -0.8% |
| WHEAT | 2021-01-19 | [Wheat holds near 6-1/2 year peak as focus stays on Russian export tax - Markets - Business Recorder](https://feedsoft.ai/events/49175-wheat-holds-near-6-1-2-year-peak-as-focus-stays-on-russian-export-tax-markets.md) | +3.5% | +2.0% |
| WHEAT | 2022-02-10 | [Palm rises as Indonesia expands export permit requirements - Markets - Business Recorder](https://feedsoft.ai/events/15843-palm-rises-as-indonesia-expands-export-permit-requirements-markets-business.md) | +0.3% | +16.6% |
| WHEAT | 2022-01-27 | [Lower use of fertilizers could adversely affect wheat output: official - Markets - Business Recorder](https://feedsoft.ai/events/43444-lower-use-of-fertilizers-could-adversely-affect-wheat-output-official-markets.md) | -2.1% | +1.0% |
| 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% |
| CORN | 2020-12-31 | [CBOT corn higher - Markets - Business Recorder](https://feedsoft.ai/events/49676-cbot-corn-higher-markets-business-recorder.md) | +6.2% | +17.5% |
| CORN | 2024-06-07 | [Corn, soy futures rise on new Brazilian tax rule - Markets - Business Recorder](https://feedsoft.ai/events/6150-corn-soy-futures-rise-on-new-brazilian-tax-rule-markets-business-recorder.md) | +5.6% | -4.9% |
| CORN | 2021-02-01 | [Wheat down 3-4 cents, corn up 1-3 cents, soy down 4-5 cents - Markets - Business Recorder](https://feedsoft.ai/events/5824-wheat-down-3-4-cents-corn-up-1-3-cents-soy-down-4-5-cents-markets-business.md) | +0.8% | -2.0% |

## Sources

- brecorder.com: https://www.brecorder.com/markets/commodities/2021-02-04

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