Russia Reinstates Corn Export Duty Amid Price Shifts

Russia is reinstating its export duty on corn from July 29 to August 4, marking the first time since April 2026 that this measure has been implemented. The Russian Ministry of Agriculture announced that the duty will be set at 232.6 rubles per ton.

The decision comes after an update of the indicative export prices for wheat, barley, and corn. While wheat's indicative price declined to $228.4/ton from $229.1/ton, barley increased to $191.0/ton from $186.0/ton, and corn rose to $232.2/ton from $231.3/ton.

The Russian grain damping mechanism introduced floating export duties on wheat, barley, and corn in 2021. The duty is calculated as 70% of the difference between the indicative export price and the base price, with indicative prices determined from export contracts registered on the Moscow Exchange.