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Russia eschewed grain export curbs in a package of measures to stabilise domestic grain markets after drought damage which has left the country facing its worst wheat harvest in nine years.

Russia’s agriculture ministry, at a much-anticipated food security meeting to discuss shrunken crop supplies, narrowed its grains harvest forecast to 70m tonnes, at the bottom of a previous range 70m-75m tonnes.

However, officials failed introducing the limits on grain exports which many traders had expected given the harvest shortfall and a ...