Russia to raise export tax October 16. This morning’s grain trade is mainly firm, with wheat retesting yesterday’s highs on news that the Russian government’s meeting with grain exports resulted in a 41% hike in the country’s wheat export tax from $14/MT to $20, which takes effect October 16. The record pace of Russian wheat…
Argentine wheat crop lowered. The grain trade overnight was mainly firm, led by the wheat trade, as dry conditions remained for Western Russia and the Western plains in the US. The weather premium is being added via French milling wheat, which picked up $3/MT overnight. Russian 12.5%/wheat is at $, with 232/MT up $1/MT today….
Grains bounce from Tuesday’s heavy selling. This morning’s grain trade is firmer, with wheat leading the advance. Russian FOB wheat is firm at $233/MT FOB, up $15 in the last month. It appears Russia is fully sold off for October, and only limited supplies are still available for November as sellers are starting to hold…
Markets struggling with liquidation and lack of friendly input. A lower night session across the board with only corn trying to find stability, as export sales were strong over the past week for corn in the above expectations of 38.8 Mil Bu fro crop. Weakness in soybeans and wheat is occurring now with the lack…