Moscow's revised export levy lifts CBOT wheat futures 4.2% in a week; Argentine drought and weak Russian harvest reinforce a bullish short-term outlook for European mills.
Wheat prices broke through a six-month resistance level on Friday...
European mills, already operating with thin inventory cover...
Despite a difficult planting season, BCR projections show 2025/26 soybean output near 49.5 million tons.
The revised levy, effective May 15, recalibrates Russia's competitive position in tenders from Egypt to Algeria.
NOAA's outlook shows persistent below-normal precipitation across Kansas and Oklahoma.
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