Harvesting profits

clock • 6 min read

The drought that has devastated Russia's wheat harvest has brought misery to thousands, but the sharp rise in prices has meant bumper returns for investors in the agriculture sector. Nick Sudbury reports

  The worst drought in Russia for a century looks like it could reduce the country's massive grain crop by around a quarter. In order to conserve local supplies, the Russian government has put in place an export ban that will run until the end of the year. Russia is a major exporter of grain and the disruption to the world's supply has had a sharp impact on prices. US wheat futures are up more than 80% since mid-June, the fastest rally in nearly 40 years. Other crops including barley, corn and rapeseed have also jumped higher.  The main beneficiaries of all this have been investors...

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