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Wheat Prices Jump to Highest Since May as Russia Slows Shipments

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As the ruble’s collapse increases domestic costs for bread, Russia is taking steps to stem its grain shipments and sending wheat prices in Chicago to the highest since May.

The nation is slowing down shipments by denying certificates that grain sellers and buyers need after sanitary inspections, a grain-export lobby said yesterday. The country’s “main goal is to replenish the domestic market,” Deputy Prime Minister Arkady Dvorkovich’s spokeswoman, Aliya Samigullina, said by phone from Moscow today.