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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
RUSSIA
Wires carrying comments from Russian Prime Minister Mikhail Mishustin stating that Russia must priorities its grain supplies for the home market to secure bread supplies for Russians. Says that a list of goods subject to export or import bans is coming, but gives not further details.
- Mishusting says that turbulence linked to sanctions will end. that the government will help airlines keep their foreign plane fleets , and that Russia will retaliate against countries that ban Russian ships from their ports.
- Should Russia limit its export of grains it would have a significant impact on global food prices, given Russia is the single largest national exporter of wheat in the world (see chart below). Ongoing conflict also likely to severely limit Ukraine's ability to export wheat. Without those two nations, the world would lose almost 30% of total wheat production.
Chart 1. 2021/22 Estimated Wheat Export Split, %
Source: ING, USDA
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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