He also urged the provincial governments to continue taking necessary steps to ensure provision of basic items at affordable prices across the country.
On the daily chart, the drop triggered by the key resistance at 3,856 ringgit looks so decent that it suggests a completion the wave C from 2,691 ringgit.
Argentine soybean and corn fields have benefited from recent rain, with more showers expected that could slowly improve crop yields after they were threatened by dry weather earlier in the season, local climate experts said on Thursday.
Russia, one of the world's largest wheat exporters, is trying to stabilise domestic food prices with the wheat export levy as well as a grain export quota and a series of other measures after President Vladimir Putin criticised the impact of excessive inflation.
Recent rains have also helped improve the state of the country's crops ahead of the 2020/2021 harvest, a welcome relief for farmers following a prolonged drought during the southern hemisphere winter.
The export cap that had been imposed at the start of the week was criticised by growers who said it would weigh on production. Argentina, the world's No. 3 corn exporter, is also the top international supplier of soymeal livestock feed.
The correction triggered by the resistance at 3,883 ringgit was driven by a wave 4, which may have ended around 3,679 ringgit, as suggested by its three-wave structure and the bounce from the Tuesday low of 3,690 riniggit.