Four market sources have confirmed that Russia, the largest wheat exporter in the world, has removed the minimum price recommendation for grain exporters until the end the export season, which is July 1.

Sources said that the initial minimum price for May and Juni was $250 per metric ton.

The Russian Grain Exporters and Producers Union (which usually makes the recommendations) declined to comment.

According to the Rusagrotrans railway carrier's estimates, Russia exported 38.6 millions tons of wheat between July 2024 and April 2025.

The decision allows grain traders to sell the estimated 3,6 million tons of wheat below the recommended price.

This will be positive for Russian Exports, but may not have much of an impact in real life. One German trader stated that the main obstacle to Russian exports is the lack in demand from importers.

A second trader stated: "Russia doesn't have a lot of wheat, so it may only bring a small boost in Russian sales."

At a closed door meeting in October last year, the Russian agriculture ministry requested that exporters not sell wheat to international buyers at less than $250 dollars per ton FOB (free on board) for wheat coming from Russia.

It was decided to limit the exports, which were booming last year, while Russia battled domestic inflation. Reporting by Olga Popova, Michael Hogan and Gleb Bryanski. Editing by Louise Heavens, David Goods and David Goods.

(source: Reuters)