The wheat quote just broke the psychological barrier of $300 and put $300,50 on the board. The wheat quotation on the Matif briefly hit the €300 mark last week, but stranded just below it with a peak price of €297. Over the next few days, the market briefly lost momentum. Yesterday (Wednesday, November 10) the mood changed again and the market found its way up again.
Russia went one step further. The world's largest wheat exporter plans to impose an additional wheat export quota for the first half of 2022, Russia's agriculture minister announced at a cabinet meeting yesterday. He also announced that he would adjust the methodology for calculating weekly export duties if world market prices rise significantly. Everything to keep prices on the domestic market somewhat under control.