The Russian government ordered “necessary measures” to boost ag exports after wheat sales to start 2025-26 fell to their lowest since 2008, without providing specific details. As we previously reported, Russia cut its wheat export tax to zero for July 9-15 — the first time the tax has been removed since it was introduced in 2021. It is unclear how long the zero-duty period will extend.
Reuters reported there was already a shortage of wheat at Black Sea grain terminals. It quoted a trader as saying, “Grain is arriving at the port two to three weeks later than exporters expected, due to delays in harvesting, lengthy procedures for obtaining declarations and low prices.”
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