Following an announcement to lift the ban on grain exports from Russia beginning July 1st, 2011, the price of wheat futures is seeing a decline. The ban was set in place in August of last year to reduce the risk of a grain shortage following a severe drought. Russia is expected to export 10 million mt of wheat in the following year which can account for the downturn in wheat prices.
Russian Grain Export Ban – Update
by Breanne Baker | Jun 3, 2011 | Agriculture Industry, Articles