Russia’s in a Pickle, Oil is Cheap (ish) & Southern Soybeans Abound — A Market Update

Rumours are building again that Russia may limit their grain exports (specifically wheat) and the government might start increasing the purchasing price from farmers for the government reserve stocks (the government is definitely worried about rising domestic food prices). This would incentivize producers to sell to the government versus grain merchants/exporters. SovEcon said earlier in the week that Russia’s grain exports don’t look to be slowing down, thanks to a weaker ruble and said increasing domestic prices. Thanks to a 104 million-tonne crop this year, there’s plenty of product available and SovEcon expects Russia to export about three million tonnes…

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