An announcement by Russia that it does not believe it has need to limit grain exports has calmed jittery commodity markets.
The price of some wheat and corn futures have soared as droughts in Russia and the US, both major exporters, have lowered yields of these crops significantly.
There were concerns that Russia may have been considering export limits, as it did two years ago, to maintain supplies at home.
However, The Public Ledger managing editor Ian Hart says food prices will remain high, until more is produced.
