Russian wheat ban pushes futures prices higher

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KANSAS CITY — Wheat futures prices surged Aug. 5 on the three exchanges of Chicago, Kansas City and Minneapolis in response to Russian Prime Minister Vladimir Putin’s announcement Russia would halt grain exports from Aug. 15 through the end of the year because drought-reduced crops raised fears of domestic food price inflation. Prices of several wheat futures contracts opened up the 60c daily limit before pulling back, which allowed trading to resume. The Chicago September future was locked limit up throughout the session.
foodbusinessnews.net

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Daniel J. Brooker is the founder of Brooker Laboratories, LLC servicing over 800 clients nationwide with Nutritional Analysis, Food Label FDA Compliance, and Regulatory Assistance. With over a decade of experience formulating ingredients for the tortilla industry with Chem-Mex Industries, Inc. Daniel has a Masters Degree in Food Science and Nutrition from Chapman University and a Bachelors Degree in Chemistry from California State University Long Beach. He is also a three time guest lecturer at the Tortilla Industry Association's annual conventions in Las Vegas and the owner of TortillaNews.com, which provides current news relevant to the Tortilla Industry.

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