Russia will cut wheat export tax from 1st October to 50 percent of the customs price minus 6,500 roubles (99 USD) per ton but not less than 10 roubles per ton. 

Ministry is against possible cut in what export tax. It wa speculated for a long time that export tax is going to be eased, but it look like that is not going to happen soon. Wheat export tax is set at 50% of the customs price minus 5,500 roubles/ton (83 USD/t) but not less than 50 roubles/ton. 



Price of wheat in Russia declined last week. Harvest is on the way, ramping up. Russian farmers had harvested 37 million tonnes of grain. Black Sea forward prices for Russian wheat with 12.5 percent protein content were at 188 USD/t FOB. Domestic prices for third-class wheat were down. This year harvest has been delayed by rains