Wheat prices rise, shattering records as fear of shortage looms
Date: Saturday, February 16 @ 19:15:21 PST
Topic: Consumption; Demand; Prices


MINNEAPOLIS (AP) - Spring wheat prices have been on the rise all winter -- smashing previous records.

At the Minneapolis Grain Exchange, trading rose to $19.80 a bushel yesterday -- nearly triple the record from 1996. Trading closed at $19.35 a bushel.


Grain experts say the wild increases are due to a fear that grain supplies won't keep up with rising demand. Poor wheat crops worldwide have left wheat supplies at a 60-year low.

The impact of that shortage has fueled a wave of uncertainty about everything from food price inflation to possible hunger in the developing world.

AP





This article comes from Peak Oil News
http://www.peakoil.com

The URL for this story is:
http://www.peakoil.com/modules.php?name=News&file=article&sid=35841