Moscow | Reuters –– Russia approved the launch of a new wheat export tax from July 1, which traders say could threaten profits on advance contracts for the new crop if the rouble weakens in coming months. Russia’s government said Friday that the new tax was intended to stop exports surging if the rouble drops […] Read more
New Russian wheat tax puts exporters, traders on edge
Russian ag ministry proposes new wheat export duty formula
Donskoy | Reuters –– Russia’s agriculture ministry said on Tuesday it had finalized the methodology for the calculation of a wheat export duty that will be introduced from July 1. It has proposed exporters pay a duty of one rouble per tonne on wheat priced up to 11,000 roubles (C$268) per tonne on a free-on-board […] Read more
Russian wheat prices follow global benchmarks higher
Tikhoretsk | Reuters — Russian wheat export prices rose last week following an increase in global benchmarks and concerns over dry and hot weather in the European part of Russia, analysts said. Russia, one of the world’s big wheat exporters, competes with other global suppliers, including France, where Western European wheat prices hit the highest […] Read more
Prairie feed wheat relatively strong against milling wheat
CNS Canada –– Relative strength in the feed wheat market in Western Canada compared to milling wheat is making feed channels a more attractive option for some growers with lower-end milling wheat left to sell. “Right now, feed is pretty well on par with a lot of the base milling-grade wheats,” said Jared Seitz, trade […] Read more
Russia lifts wheat export duty, exports seen rising
Moscow | Reuters — Russia lifted its duty on wheat exports on Friday to help domestic producers and the government said the move would boost overseas sales by one million tonnes. One of the world’s major wheat exporters, Russia initially imposed the tax from Feb. 1 until June 30 to dampen rising domestic prices and […] Read more
Russian wheat price may rise when tax removed
Moscow | Reuters — Russian wheat prices may rise in coming weeks when the government removes an export tax, set earlier this year to cool food inflation, SovEcon agriculture analysts said Thursday. Russia will take a decision by mid-May on removing the tax ahead of schedule and will set up a new mechanism in case […] Read more
What’s on your mind? Question #1 from Alberta Farmer readers
Carry-out and wheat prices
Reading Time: 2 minutes EDITOR’S NOTE: We asked a sampling of producers what was on their mind as they were headed into the growing season, and then reporters Alexis Kienlen and Jennifer Blair went looking for answers. Bin buster Bentley-area grain producer Jason Lenz asks, “How will the large carry-over affect new-crop wheat prices?” It’s the world market that sets […] Read more
Poor U.S. wheat markets may be in for more weakness
Exporters in the European Union, Black Sea region, Australia and Canada are all expected to move to protect or gain market share
Reading Time: 4 minutes Reuters/March 2014 Chicago wheat futures started out the 2013 calendar year above $8 a bushel but appear set to end the year struggling to hold above the $6 level. A global pickup in importer demand during late summer had allowed for a brief stint of price strength in early autumn, but the revelation — amid […] Read more
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