Live Updates > Live Update Details
2025-09-16 17:48:04
[Russia's Export Tax Adjustment Impacts Global Food Prices, Emerging Bull-Bear Game] ⑴ News that Russia will raise its wheat export tax to approximately $6/ton has significantly boosted global food prices, sparking market concerns about rising costs and prompting some short-covering. UK feed wheat futures (November contract) closed at £166.90/ton on Monday, up £0.65/ton from Friday, while the November contract rose £0.70/ton to £177.70/ton. During the same period, Chicago wheat and Paris milling wheat futures (December contract) rose 0.3% and 0.7%, respectively. ⑵ US corn harvest data shows that as of September 14, 67% of the US corn crop was in good or excellent condition, slightly lower than 68% the previous week, but higher than the market expectation of 66%. Harvest progress is currently 7%. Although crop conditions have declined slightly, they remain above expectations, providing some support to the market. European oilseed markets faced pressure, with Paris rapeseed futures (November contract) falling €2.75/ton to €470.25/ton. Harvest pressure in the United States and Canada, coupled with ongoing concerns about China's import demand, led to weak performance across the oilseed sector. Chicago soybean and Winnipeg rapeseed futures (November contract) fell 0.3% and 1.2%, respectively.
