Entries tagged as global trade

Is it global warming or just a bad year? Record temperatures in Russia this summer triggered Russian government’s response of stopping the export of wheat. As Mr. Putin put it in Russian – reserves don’t hurt ones pocket. As we live in the all connected world this decision caused significant waves in food supplies and futures trading. The decision immediately triggered a sharp rise in the value of futures for delivery of wheat in the world. At the Chicago Mercantile Exchange, the December futures on wheat rose by $ 0.6 - to $ 8.155 a bushel. The global prices on wheat rose 7.3%.