Friday, August 24, 2007
Wheat Prices Reach Record Levels
Wheat prices have hit record highs on global commodity markets, bringing the threat of rising bread prices. Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall. Surging prices are also expected to have widespread fallout for consumers. While it will mean higher bread prices, it could also trigger an increase in meat and dairy prices as farmers battle to pass on rising feed costs.