Wheat Prices Rise As Russia Bans Wheat Export

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Bread is displayed for sale at a Manhattan market on August 6, 2010... News PhotoAgriculture,Bread,Business,Finance,Food,For Sale,Groceries,Horizontal,Manhattan - New York City,New York City,Sourdough Bread,USA,Wheat,Whole Wheat,WholegrainPhotographer Collection: Getty Images News 2010 Getty ImagesNEW YORK - AUGUST 06: Bread is displayed for sale at a Manhattan market on August 6, 2010 in New York City. As a result of drought and an outbreak of wildfires that have decimated Russia's wheat crop, U.S. wheat prices have been steadily rising, igniting fears of a global rise of food prices. Russia announced a ban on grain and flour exports yesterday, which will take effect from August 15 to the end of the year. While prices fell slightly in trading today, U.S. wheat futures on the Chicago Board of Trade rose over 20 percent earlier in the week, having nearly doubled since early July to $8.41 a bushel. (Photo by Spencer Platt/Getty Images)