Russia is asking for a high price for wheat exports… and a possible temporary halt

Two well-informed sources told Reuters that Russia does not intend to stop its wheat exports, but wants exporters to pay farmers high prices enough to cover average production costs.

The two sources added that this means maintaining wheat export prices at $275 to $280 per tonne or higher.

And the Russian newspaper Vedomosti reported that Russia may recommend temporarily halting its exports of wheat and sunflower, after a sharp decline in their global prices in recent weeks.

The two sources denied the existence of such a plan.

The second source said that Russia recommended wheat-exporting companies to set the wheat export price at no less than $275 per ton “until further notice.”

He added that companies that will not abide by this price may face problems in obtaining the necessary papers to export wheat.