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| Vladimir Putin |
Wheat extended a rally to the highest price in almost two years on concern that other nations may follow Russia’s export ban, and may reach $10 a bushel, a price not seen since the global food crisis in 2008. Russian Prime Minister Vladimir Putin said that Kazakhstan and Belarus should also suspend shipments as Russia’s ban was announced yesterday from Aug. 15 to the yearend. “It’s got $10 written all over it,” said Peter McGuire, managing director at CWA Global Markets Pty, who correctly forecast Aug. 3 the surge to $8.50. Wheat last traded at $10 in March 2008, and a gain to that price would be a 23 percent advance from yesterday’s close. Read more here:
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