Wheat Extends Advance in Chicago as Russia May Restrict Exports
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Wheat futures extended gains in Chicago on speculation Russia will restrict exports after the worst drought in at least 50 years curbed production.
Russian officials are discussing possible grain export restrictions as traders urge a blanket ban rather than duties to allow them to renege on contracts, said Grain Union President Arkady Zlochevsky. Russia’s Agriculture Ministry spokesman Oleg Aksyonov declined to comment.