July 19, 2010


Heat in Russia results in rise of global grain prices


Unprecedented hot weather in many Russian regions has led to the growth of world wheat prices by 23% in the past two weeks, according to a representative of the London-based International Grains Council.


He said that market dealers feared the loss of some harvest in Eastern Europe, including Russia and Ukraine, due to prolonged heat. World wheat prices have reached the maximum of the past seven months, or US$5.92 per bushel at the Chicago Exchange.


Russia ranks the world's fourth by the amount of wheat exports.

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