Russia sets wheat price floor, urges direct sales as prices hit 3-month high

Russian exporters are adapting to a new reported minimum price floor for wheat exports, coupled with a mandate that restricts sales exclusively to them, a strategy aimed at deterring low-priced sales and eradicating the practice of intermediaries reselling Russian grains. The Russian Ministry of Agriculture has backed the Russian Grain Union’s proposal to promote direct sales for exports, ensuring that…Russian exporters are adapting to a new reported minimum price floor for wheat exports, coupled with a mandate that restricts sales exclusively to them, a strategy aimed at deterring low-priced sales and eradicating the practice of intermediaries reselling Russian grains. The Russian Ministry of Agriculture has backed the Russian Grain Union’s proposal to promote direct sales for exports, ensuring that…Read More