In brief: • Moscow is considering introducing an export quota of 20 million tons of grain • Grain exports from Russia are lagging by 25% so far The Kremlin is discussing the introduction of an export quota of 20 million tons of grain for the period from February 15 to June 30, 2026, which may include corn and barley. If implemented, such a measure has the potential to alter flows and premiums in the second half of the season, experts assert. In light of the slower exports, the Russian Ministry of Agriculture has proposed other measures, namely: stricter quality control and enhanced data monitoring. These proposals clearly indicate that the trends for the current campaign are shifting from volume to quality. Quality issues this season have also been recorded in other parts of the Black Sea region (such as Ukraine and Bulgaria), where the share of bread wheat also declined on an annual basis. In the period from July to October this year, Russia exported 20.6 million tons of grain, ...