Mono I don't see that Russia unilaterally banning wheat exports is automatically going to lead to contagion of protectionist measures internationally. Even if it does, Australia will not follow suit, and it means it will be plugging a massive hole in supply = higher prices. The Russian's move is short term to preserve domestic interests and keep the peasants from revolting. The fundamental is that Russia is a net wheat exporter, so this will leave a massive hole in the international market = deficit in supply = higher prices and benefit to Australian producers. Can't see a downside to wheat farmers with this one. God knows, they need a break. Watching AWB as I think it could be overdue for a revival.
AWB Price at posting:
$1.09 Sentiment: None Disclosure: Not Held
