Grains - Grain Products

Cereals daily: consternation over Russia's export tariffs

December 18, 2020 10:09 AM, Der AUDITOR
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CHICAGO/PARIS. Buyers feel that Russia's export tariffs on wheat are a slap in the face. Weather conditions, meanwhile, spell distaster for corn production in South America.

15% decline in wheat production in Argentina

Spot market prices are up in Europe. The drivers are Russia's decisions to slap an export tariff of 15% and an export quota on the market as of 15 February as well as downward revisions in production estimates in Argentina. Production is expected to decline by more than 15% to 16.5m mt in Argentina over last year. Exporters in Russia are reportedly having difficulties obtaining licences. Traders reckon that they have good chances of obtaining cheaper imports of high-quality wheat in Australia. At 29m mt, production has ne

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