On December 10, 2025, the National Commodity Exchange is launching a test mode of anonymous spot trading in wheat, NTB reports. The project is being implemented jointly with the Ministry of Agriculture, the Bank of Russia, the Union of Grain Exporters and Producers and the largest market participants. Bidding will be held for 4th grade wheat with 12.5% protein in the format of a two-sided anonymous auction, where buyers and sellers submit counter bids with price and volume; transactions are made when the parameters match.
For testing, two order books are created: with railway delivery (minimum lot 70 tons) and auto delivery (minimum lot 30 tons). Delivery is provided on CPT Novorossiysk terms through the terminals KSK, NZT and NKHP. Buyers will be exporters, and sellers will be grain producers and traders.
NTB expects that a single pool of liquidity on export bases will improve pricing transparency. Priority in rail transportation of exchange-traded products and the emergence of a new price indicator based on anonymous trading should simplify the work of grain market participants.
Source: https://www.zerno.ru/node/31920