Russia Ban May Lift Early

The price of fourth-grade milling wheat, Russia’s main export cereal, rose earlier this month as traders kept buying it on expectations of an early lifting of an export ban, analysts said. Russia, hit by a severe drought unrivalled in more than a century, imposed a ban on grain exports from Aug. 15, 2010 to July 1, 2011. Only flour exports were permitted from January. Officials have said the ban may be extended to the end of 2010. But some traders believe that the ban may be lifted in October and some wheat exports may be allowed from the south of Russia already in July. – Reuters

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