Russia sets price floor for wheat at international tenders, sources say

Russia’s agriculture ministry has set a minimum price of $250 per ton for wheat exports at international tenders, aiming to curb high-volume exports and combat domestic inflation. Exporters were also advised to engage in direct deals with buyers. The move comes alongside an increased export duty of 1,872 roubles per ton. Russia slightly lowered its harvest estimate to 130 million tons, with domestic consumption projected at 85-87 million tons, leaving the remainder for export.READ FULL