Wheat futures hit a five-month high in Chicago, and recorded
their highest finish in Paris in six months, amid fears over supplies from
Russia, for which export curbs are "very much on the agenda", a trading house warned.
Chicago wheat for March touched $6.22 ¾ a bushel, its
highest since July, before easing to close at $6.19 a bushel, a gain of 2.1%.
Paris wheat for March, the best-traded contract, closed up
1.1% at E191.75 a tonne, its highest finish since June, while in London, May
feed wheat gained 1.7% to £137.45 a tonne.
The gains came amid fresh fears that Russia, facing high
food inflation - stoked by a ban on Western ag imports introduced in
retaliation for sanctions imposed over the country's role in stoking Ukraine
unrest – would clamp down on grain exports.
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