The intention of Russia to increase export duties has led to a rapid increase in wheat prices

After caused by the January USDA report sharp growth of stock quotes, yesterday markets again began to move versatile. In Chicago, traders were taking profits and prices dropped, while in Europe continued to grow. In Ukraine following the corn market, wheat prices increased by 15-20 $/t

growth Driver was the news about the intentions of Russia from March 15 to increase the export duty on wheat by almost half, from 25 €/t 45 €/t, and introduce duties on export of maize and barley.

the March wheat futures in the U.S.:

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by 2.94 $/t to 231,02 $/t on a firm spring HRS wheat in Minneapolis.

• 1.19 $/ton to 229,92 $/t for solid winter HRW wheat in Kansas city

Fell by 1.65 $/t to 242,69 $/ton SRW soft winter-wheat in Chicago.

bid Prices of black sea wheat for two days increased to 285-290 $/t FOB, and after them the purchase price of wheat in the ports of Ukraine increased by 15-20 $/t to 260-265 $/t or 8700-8800 UAH/t

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• On the news of increased export duties on Russian wheat March futures for milling wheat on MATIF rose by 2.25 €/t to 226,75 €/t or 275,82 $/t, which is the maximum of the last 7.5 years.

the price of wheat of the new crop continue to grow amid dry weather in the U.S. and frosts expected in Ukraine and Russia, which may harm the winter wheat crop, which almost no snow cover.

the Ministry of industry and trade of Jordan at the tender of 13 January bought 60 thousand tons of solid Romanian milling wheat for delivery in the first half of August 2021г. for the price 269,2 $/t C&F, which was 15.2 $/t higher than the price of the Dec 2020 and 43 $/t last year's price.