Russia Clampdown on Grain Exports Strands Wheat Headed for Egypt

Russian grain exports that halted Dec. 18 have stranded wheat shipments to Egypt, the world’s biggest buyer, according to the Russian Grain Union.

Traders have contracts to deliver a total of more than 3 million metric tons of Russian grain through January, Arkady Zlochevsky, president of the union, told reporters in Moscow today. Russia has 180,000 tons of wheat sales to Egypt’s state grain buyer outstanding for shipping in January, according to data compiled by Bloomberg.

“Exports came to a complete and utter halt,” Zlochevsky said. “Nothing is being shipped. No boats are putting to sea.”

Source:agweb.com