Russia Suspends Grain Exports
The New York Times today reported Russia has banned all grain exports until the end of the year, driving prices for wheat and other grains up in global markets.
Russia announced Thursday that it would ban grain exports through the end of the year, a response to a scorching drought that has destroyed millions of acres of Russian wheat and hobbled the country’s agricultural revival.
The ban on grain exports by Russia, one of the world’s largest wheat producers, helped propel wheat prices in the United States toward their highest levels in nearly two years and raised the prospect that consumers could pay more for products like flour and bread as Russia tries to conserve its supplies of wheat, barley and other grains for its own people.
This of course follows Ukraine’s ban on grain exports and Russia’s president warning of the perils of climate change.
Meanwhile, back in Washington, the Senate is unable to move anything resembling energy or climate legislation.
