The Wheat Growers Action Group, an Australia organization which supports reviving the Australia Wheat Board as the country’s single desk wheat exporter, is staging a rally in Canberra this week to let politicians know they don’t like the new system. A rally organizer estimates that in the past year Australian growers have lost more than $1 billion due to the new arrangement which allows multiple exporters.

Once quality control issues are resolved, Egypt and Russia are looking at entering into long-term wheat contracts. Egypt is currently Russia’s biggest wheat importer, taking more than four million tons this season or one-quarter of Russia’s exports.

Ukraine has signed a deal with Libya to exchange 250,000 acres of wheat ground for 600,000 barrels of crude oil. The two way deal is one of several being considered by oil rich nations that are striving for food security after wheat prices soared in 2007 and 2008.

Wheat, soybeans and medical supplies—all considered humanitarian items-- were the top three exports to Iran during President Barack Obama’s first months in office. Nearly $100 million worth of goods made it into Iran from January through April compared to $51 million during the same period in 2008. Much of the increase has to do with drought and resultant poor harvests in Iran.