Russia May Run Out of Exportable Grain Surplus in November

Russia, the third biggest wheat shipper last season, will run out of its 2012-13 exportable grain surplus of 10 million to 14 million metric tons in November, a survey of 10 exporters and market analysts showed.

All 10 people said the supplies will run out, potentially requiring Russia to impose an export restriction that may include duties, according to the Bloomberg survey conducted over the past four days. Wheat prices have climbed 41 percent this year on the Chicago Board of Trade, as drought curbed crop prospects in top exporter the U.S., Russia and Ukraine, the eighth biggest shipper.