Grains - Grain Products

Cereals daily: imports may hamper speculations

January 18, 2021 at 10:06 AM, Der AUDITOR
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CHICAGO/PARIS. Russia's gamble with export tariffs is driving up the wheat market sharply. Imports from Canada and Australia, where there are abundant supplies, could easily put a cap on this. The situation is similar for corn.

Russia's export tariffs drive up wheat futures

Russia intends to raise export tariffs on wheat to EUR 50/mt as of 1 March. A tariff of EUR 25/mt will apply as of 15 February. On top of this, Moscow will release 75,000 mt of grain from state reserves into the domestic market. Intervention stocks have allegedly shrunk to 200,000 mt and are to be replenished to 2.5-3.5 million mt in summer after the arrival of the new crop. Traders along the Rhine in France and Germany report that prices are rising by EUR 3.00-4.00/mt on a daily basis. This has prompted sellers to hold

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