The price of a futures for Russian wheat exceeded $300 per ton. Wheat has broken a multi-year price record that has been held since 2014.

The quotes in the physical market are also approaching this mark. Average wheat prices went up $25 since December, reaching $286 per tonne (FOB). This comes amid news of new restrictions on grain exports. Earlier, the subcommittee on customs and tariff regulation approved an increase of the export duty on wheat within the quota to 50 euros per ton from March 1.

Experts note that the price level above $300 can hold out only until spring, when the news about a new harvest, which will cost less, will start to influence the situation. Also, a lot will depend on the readiness for deals at such prices of large buyers, for example, Egypt.