Tuesday, February 26, 2008

Wheat prices hit new price record

Food prices are still increasing, which is what people predicted for the first few months of the new year. But how long will this last?

From BBC:

Wheat prices have hit record levels as supplies dwindle, raising concerns about growing food inflation.

Chicago Board of Trade (CBOT) wheat for delivery in March rose the maximum 90 cents allowed to $11.99 a bushel in electronic trading in Asia.

High-protein spring wheat on the Minneapolis Grain Exchange rose by almost 25% to record levels on Monday.

Kazakhstan has become the latest country to put export restrictions on wheat as it battles against inflation.

Russia and Argentina have already imposed similar export restrictions.

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