Posted 9/16/2023, 5:00:00 AM
Russia's Bumper Wheat Harvest Consolidates Control of Global Market Amid Ukraine War
- Russia's large wheat harvest slashes global prices to 3-year lows
- War in Ukraine disrupted exports, cementing Russia's domination of market
- Russia enforcing unofficial price floor to support incomes and tax revenue
- But inconsistent application allows some buyers to skirt floor in deals
- Russia's bumper exports offset concerns about Ukraine shipments
- Russia consolidating control over global wheat market amid Ukraine war