Posted on August, 31, 2018 at 10:20 am
By Arvin Donley
MOSCOW, RUSSIA — Russia’s agriculture ministry is planning to discuss its current grain market situation, production and export plans during a routine meeting on Sept. 3, according to a Aug. 29 report from Reuters.
The Chicago December wheat contract rose on Aug. 29 on market talk of Russia potentially curbing grain exports in the future.
Russia is the world’s largest wheat exporter, but this year’s crop is smaller due to dry weather in the region.
Reuters said it obtained a copy of a letter from Russia’s National Association of Exporters of Agricultural Products that was sent to its members after its meeting with the Russian Ministry of Agriculture on Aug. 28.
In the letter, the exporters association said the ministry would continue monitoring the situation on a weekly basis and said the ministry was considering limiting wheat exports in 2018-19 to 30 million tonnes, and that potential curbing of exports could take place at 25 million tonnes.
Source: WORLD-GRAIN.COM