Wheat Rises as Russia Extends Ban, Mozambique Strike Continues
"Russia was for the last couple of seasons a very large part of the world export market and now all of sudden they disappeared," Keith Flury, a grains analyst at Ratzeburg, Germany-based F.O. Licht, told Bloomberg News. "This is kind of the new fundamental shift that not everybody was really ready for."
In Mozambique's capital Maputo, a strike against the increase in food and utility prices entered its second day. At least seven people have died and another 280 have been injured in clashes with police.