Guardian - SINGAPORE, Aug 6 (Reuters) - Suppliers of Russian wheat to Asia are edging nearer to cancelling contracts after Moscow's ban on grain exports, forcing buyers to turn to alternative origins as U.S. wheat futures soar to a 23-month high. There was no immediate panic reaction from top Asian importers because global stockpiles were ample, but the rally could stoke fears of food inflation in key buyers with a near doubling of prices on the Chicago Board of Trade since lows in June, analysts and traders said on Friday.
U.S. wheat futures jumped more than 6 percent, taking this week's gains to more than 26 percent in a buying frenzy sparked by the move to temporarily halt grain shipments from Russia, the world's third-largest exporter......... read more>>
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