Wheat Prices Ease on Supply Reports

CHICAGO — This summer, a prolonged, severe drought led Russia one of the worlds largest wheat exporters to ban exports of the crop. The result was a significant spike in wheat prices on the world's futures markets. Many producers feared a repeat of the food crisis of 2007 and 2008, when a combination of factors including rising global demand, federal ethanol mandates in the U.S. and non-commercial speculation

CHICAGO — This summer, a prolonged, severe drought led Russia — one of the worlds largest wheat exporters — to ban exports of the crop. The result was a significant spike in wheat prices on the world's futures markets. Many producers feared a repeat of the food crisis of 2007 and 2008, when a combination of factors including rising global demand, federal ethanol mandates in the U.S. and non-commercial speculation on the commodities markets sent the price of corn, wheat and soybeans soa

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