Wheat Climbs as Russia May Slow Exports on Waning Supply

Wheat advanced to a three-week high in Chicago as Russia may slow shipments of the grain with supplies for exports down. Corn and soybeans gained.

Wheat stockpiles held by farmers in Russia’s main exporting regions in the south have dropped below last year’s levels, declining as much as 50 percent in some areas, SovEcon, a Moscow-based agricultural researcher, said yesterday. The country banned exports in August 2010 after its worst drought in half a century. The ban was lifted in July.