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Russian export ban injects volatility into wheat market: Drought slashed production estimates; trade awaits more restrictions
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机译：Russian export ban injects volatility into wheat market: Drought slashed production estimates; trade awaits more restrictions
KANSAS CITY--First rumors, then confir-ation in early August that ban grain exports from Aug. 15 through the end of 2010 due to extreme drought sent U.S. wheat futures prices skyrocketing, then plunging back to earth with limit losses in the same week, somewhat reminiscent of the extreme volatility seen in 2008 when many grain and oilseed prices soared to record highs. While the Russian situation appears the most severe, several other key wheat producing areas are being watched, including Europe, andhave seen crop prospects diminish. Most reports have indicated the drought in Russia to be the worst in 100 to 130 years, and some even suggested it is the worst in 1,000 years. So far the heat, fires and stifling smoke and smog have resulted in thousands of deaths. The drought also has devastated the nation's crops and drastically reduced export prospects, especially for wheat.
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