Russian wheat is cheaper on record-high on-farm stocks. Will this convert into aggressive exports in 21/22?
Russian wheat tumbled on higher supply from farmers amid approaching new crop and record-high on-farm stocks.
Russian wheat tax and quota – market implications
Russia is introducing a flat wheat export tax of 25 EUR/mt (EURUSD = 1.21). What does that mean for global wheat market?
Russian wheat flat, grain processors lobby for export tax
Russian export market remains relatively flat. 12.5% wheat prices in deep-sea ports declined by $1 to $253/mt. The market continues to watch the weather in the Black Sea and follow closely a discussion about potential export restrictions.
The Black Sea 20/21 round-up: Good wheat crop and exports despite a disappointing start
The start of the 2020 wheat harvest campaign around the Black Sea was a disaster. Both Russia and Ukraine were reporting yields around 30% lower than a year ago after a prolonged dryness period in spring which damaged crops in the region substantially.
Russia’s wheat export estimate cut on weak pace, endings stocks are still the lowest since 2007/08
* Wheat exports forecast is down again
* Ending stocks are estimated at 6.6 MMT, the lowest since 2007/08
Russian wheat export forecast cut on weak pace and low crop
The export forecast has been lowered again. The reason is the current weak pace and low crop figures for 2019, released by Rosstat in December.
Ukraine’s bumper corn crop to pressure U.S. exports business
Ukraine is expected to harvest a record-high corn crop this year which threatens the US exports to Asia