Russia will not limit exports of wheat

After Monday meeting with the largest grain exporters, the Ministry of agriculture of Russia reported that the need for the introduction of export duties or other restrictive measures, the export of wheat yet.

in addition, for the stabilization of prices, reduction of budgetary expenses on the storage of grain from the intervention Fund in 2018-19 years of the planned 1.5 million tonnes of grain, which will positively affect the market.

In July and August 2018, Russia exported 9.8 million tonnes of grain, which is 39% higher than in the same period last year. The exports of wheat increased 1.6 times to 8.2 mln tons. In July it was exported 4.7 million tons of grain in August, 5.1 million tonnes, of which wheat - 4.4 million tons.

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• At this news the September futures for wheat on Euronext was down 0.75 €/t to 204 €/t or 236,7 $/t

the Introduction by Argentina of the additional duties on the export of agricultural products will become the main growth driver of stock prices.

In Ukraine, purchasing prices for wheat have not changed in low export demand due to congestion in port terminals. Farmers reduce the number of offers of wheat as begin to harvest sunflower and soybean, the implementation of which will give them the necessary working capital. Implementation of wheat postponed to a later date.