EU wheat exports may fall due to Moscow, Russia

European Union wheat exports could fall significantly by the end of the season as Russia continues to supply the supply despite export taxes. Meanwhile, importers will have cheaper access to new crops in the summer, according to traders and analysts. Vigorous sales of EU wheat in the current marketing season from July last year to June this year have been about declining stocks. Included are the large quantities of French wheat shipped to China and the German wheat sold to Algeria after a minor harvest last summer. Russia’s decision to tax wheat exports from mid-February to lower local prices is expected to lead to further demand for EU wheat, but the outlook is uncertain instead. “Importers made very strong purchases in front of Russian export taxes in February and March, which moderated expected import demands,” said a German trader. “Importers are now waiting for the new crop in Russia, which will be available in regions where they harvest early by the end of June 2020. So it's ...