date:Aug 17, 2012
curtailed and lead to increased U.S. demand.
After futures slumped to a one-month low earlier in the week, wheat traders came back to addressing the issue of tighter wheat supplies from Russia and the Black Sea area, said John Kleist, analyst with ebottrading.com.
Moscow-based SovEcon, a grain analyst firm, on Thursday reported Russian wheat stocks had slumped by 30% to 10.6 million tons as of Aug. 1. Russia wheat stocks are at their lowest in nine years, SovEcon said.
The Russian news helped fu