Russia has announced a temporary (August 15th to December 31st) ban on all exports of grain. This follows a summer of severe droughts and wildfires which spread across the country.

The ban has naturally reduced supply and in accordance with the basic principles of economics—increased price.

Should the current weather conditions continue within Russia, the planting of crops is likely to be seriously affected. Thus extending the ban and affecting the 2011-2012 supply of food.