1. Global wheat prices have sunk to their lowest level in about three years as Russia pushes exports of a bumper crop, easing food inflation while driving up concerns about an over-reliance on Russian grain. Benchmark wheat futures on the Chicago Mercantile Exchange are hovering in the high $5 range per bushel. In late September, the price touched the low $5 range, the lowest since September 2020. The current market price is nearly 60% lower than the $13 reached in March 2022, just after Russia's invasion of Ukraine. Russian wheat is taking the place of falling exports from Ukraine and an expected weak harvest in Australia. (Source: asia.nikkei.com)
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