With wheat rising there are fears that food costs could rise to unprecedented levels. From July heat prices rose to a 22 month high of just under $8 per bushel by the end of August – an increase of 50% in a month. Russia’s summer of heat waves and floods has down graded global wheat supply forecasts. This will lead to an autumn spike in wheat prices. However the spike may not be a long term event as we can see prices beginning to track downwards over recent days.
Wheat
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