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Russia May Curb Wheat Exports

Ministry met with grain exporters to discuss export volumes of grains

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Russia’s agriculture ministry said it held a meeting on Friday with grain exporters to discuss export volumes of grains.

Reuters reports traders, including some who were at the meeting, said the ministry will consider curbing 2018/19 exports once they reach 30 million tonnes following a request from meat producing regions, but added no decision had been made about how this might be implemented.

The ministry, however, said it did not discuss curbs on grain exports at the meeting.

Chicago wheat rose sharply after the news, as the U.S. and the European Union would be among countries to gain from any eventual curbs.

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