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Agricultural News


Russia May Change Mind on Wheat Export Ban

Wed, 11 Aug 2010 17:19:53 CDT

Russia May Change Mind on Wheat Export Ban Just a few days ago the word out of Russia was that it was halting wheat exports due to bad weather and an expected short crop. But now Russia's top agriculture official is reportedly saying Russia’s wheat export ban may be short lived. In fact - it could resume as early as October after wheat harvest figures are compiled.


Pressure to change direction came from Egypt, Israel and Turkey who are major importers of Russian wheat. In reaction to the original announcement global wheat prices skyrocketed. At the end of trading Wednesday - following the latest announcement - distant U.S. wheat contracts were down significantly.
   

 

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