Russian draught

Russian Heatwave Drives Wheat Prices to 22-Month High

Prices for the staple crop have jumped 50% since late June, topping $7 a bushel on the Chicago Board of Trade. A prolonged drought in Russia, one of the world's largest wheat exporters, has severely damaged crops, and wildfires have swept through some agricultural areas. Prices for the staple crop have jumped 50% since late June, topping $7 a bushel on the Chicago Board of Trade, BBC News reported.