Russia's wheat export duty that went into effect 1 February was intended to reduce export volumes and decrease domestic prices. However, neither of these goals has been achieved so far. Russian Grain Markets Market Trends: 2-6 February 2015 The export duty on wheat became effective 1 February. Its purpose is to reduce export volumes and decrease the domestic prices for wheat, but neither of these goals has been achieved so far. Because of the duty, the volumes of wheat purchased by way of the State Intervention Fund also had to increase, but this has not occurred. Thus, at just 6,075 MT of grain, the volume of grain offered during the intervention trading session on 10 February was the smallest since the beginning of these sessions this...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, Black Sea