Call: 0333 777 8522
Get in touch

Futures Close Report 3rd September

Confirmation from Russia late yesterday that there are no plans to put any export restrictions for wheat in place for the current export year after concerns that a lower crop size would impact export availability. Russia remains the cheapest global wheat source and any restrictions would be seen as bullish for prices.

Argentina – new export tax structure equating to 4 pesos per dollar has been enacted by the government – it has been suggested that this will encourage farmers to delay wheat sales and plant less corn as a result – these moves are designed to shore up the Arg Peso. Tax revenues are needed to help reduce the fiscal deficit and calm market jitters about Argentina’s ability to pay its debts.