Russia opens grain exchange

by Emily Buckley
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MOSCOW, RUSSIA — Russia’s first grain exchange opened in Lipetsk on September 18, 2003. The inauguration was put back from August 18, because unfavorable weather conditions had prevented grain producers from being ready.

Moscow Stock Exchange Vice President, Alexey Ryzhikov, told local press agencies that nine participants had been registered already and another six had submitted their applications. Approximately 20 to 30 participants were expected to join by the beginning of trade.