Russia Wheat Restrictions Spell Opportunity for France, Germany

European wheat shippers will be the winners if Russia continues to restrict grain supplies leaving the country.

Exports from Russia may be less than U.S. government forecasts this season as the nation adds rules to make shipments more difficult, according to Rabobank International. Grain buyers may turn to other European countries, while the U.S. is too expensive, said Stefan Vogel, head of agricultural commodities research.

“A lot of people are seeing the uncertainty in Russia and trying to secure some quantities in other origins,” he said in an interview yesterday from London. “It will be different regions, partly France, partly Germany, maybe the Baltics, and also the Black Sea countries, Romania and Bulgaria.”