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Historic BRICS Grain Exchange Pilot by Russia Targets US CME Monopoly

Historic BRICS Grain Exchange Pilot by Russia Targets US CME Monopoly

Author:

Global Cryptocurrency

Published:

2025-10-27 06:55:01

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BTCCSquare news:

Russia is advancing plans for a BRICS Grain Exchange, with a pilot program set for 2026 and a full launch targeted for 2027. The initiative, endorsed at the 2024 BRICS summit in Kazan, directly challenges the Chicago Mercantile Exchange's dominance in global grain pricing. Strategic agricultural discussions among member nations have gained momentum, with Russian Deputy Prime Minister Dmitri Patrushev engaging key diplomatic channels, including talks with Indian Prime Minister Narendra Modi in September.

President Vladimir Putin formally presented the proposal at the Kazan summit, emphasizing BRICS nations' role as leading producers of grains, legumes, and oilseeds. The exchange aims to reshape global commodity markets, with US tariff hikes accelerating rollout timelines for Russian and Brazilian grain-related proposals.

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