Wheat prices ease after Russia predicts stable exports

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Series Details 4.8.10
Publication Date 04/08/2010
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European wheat prices fell from a two-year high on the 3 August 2010 after Russia moved to calm fears on global agricultural markets, saying its grain exports would be stable despite the severe drought that has decimated crops.

However, on the 5 August 2010 Vladimir Putin, the Russian Prime Minister, announced a temporary export ban on grains.

Related Links
FAO: Press Release, 4.8.10: FAO cuts wheat production forecast but considers supplies adequate http://www.fao.org/news/story/en/item/44570/icode/
Gazeta Wyborcza, 6.8.10: Drought spells wheat crisis (via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/309561-drought-spells-wheat-crisis
Deutsche Welle, 6.8.10: Wheat prices soar as Russia bans grain exports http://www.dw-world.de/dw/article/0,,5870888,00.html
BBC News, 3.8.10: Wheat prices reach 22-month high http://www.bbc.co.uk/news/business-10851170

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