Drought Strains Russian Wheat Supplies

New York Times: Wheat prices in Europe reached a two-year high this week after Russian officials announced that extreme heat and drought had decimated roughly 20 percent of the country`s winter crop. Prices retreated slightly after the country`s Agriculture Ministry said that Russia, the world`s third-largest wheat exporter, would use its stocks to maintain exports. Despite the reassurances, financial markets remained concerned that the wheat losses could be higher than projected, The Financial Times ......

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