August 12th, 2010 
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US farmers to benefit from failing wheat crops
Russian drought and crops failure around the world raises shortage of wheat supply. Russia last week imposed a temporary ban on wheat exports. However US corn and soybean farmers are on track to produce the largest crops in history.
Cotton production will raise a level of 18.5 million 480-pound bales. Texas producers are expected to have a record high production. US Department of Agriculture forecasted the country’s second-largest wheat exports in 15 years worth billions of dollars.
US agriculture secretary said “There is no question this is an opportunity for us and we’re going to take advantage of it.”
According to USDA, agricultural supply and demand estimates that world wheat production at 645.7 million metric tons down 2.3% from its July estimate.
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