Cargill Warns of Opaque Wheat Prices as Firms End Russia Exports
- Top Cargill trader sees more vague price discovery with shift
- US firm is among western crop traders pulling back from Russia
Source: Bloomberg
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Russia’s increased control of its wheat exports threatens to obscure prices and curb efficiency in the global grains market, according to Cargill Inc.’s head trader.
Russia’s grip on its wheat is tightening after three of the biggest global traders — Cargill, Viterra and Louis Dreyfus Co. — said they will stop buying grain for export, leaving Russian grain supplies largely in the hands of domestic and government-funded companies.