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Far East

Russian wheat prices hit new high despite government sales

October 31, 2012: Russian domestic wheat prices rose last week to a new high despite sales from government intervention stocks last week aimed at steadying markets in the drought-hit country, SovEcon agricultural analysts said in a note on Monday. Last week Russia, one of the world's top wheat exporters, began wheat stock sales to help curb food inflation, but traders and analysts said this would not be enough to lower domestic prices, predicting more action would be needed. The Russian…

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