Welcome! Log In Create A New Profile Recent Messages

Deep Creek Hot Springs

The Moon is Waxing Crescent (7% of Full)


Advanced

Re: SC62

All posts are those of the individual authors and the owner of this site does not endorse them. Content should be considered opinion and not fact until verified independently.

February 26, 2008 07:59PM
http://news.bbc.co.uk/1/hi/business/7264239.stm

Fresh records for price of wheat

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.

Weather worries

The 25% rise in Minneapolis on Monday came after all trading restrictions were scrapped.

The March futures contract closed at up $4.75 at $24 a bushel, the record price for any US wheat contract.

The price of spring wheat has more than doubled since January.

Reports of a drought in Northern China, where most of the country's wheat is grown, also pushed prices higher.

Extreme weather has already damaged crops in other parts of the world and US wheat inventories are expected to fall to their lowest level for 60 years.

Aid warning

The World Food Programme has warned that if it does not get more money, it will have to start cutting rations or reaching fewer people.

The United Nations agency blamed rising prices for food and oil, as well as an increasing number of people who need its help.

In addition to the supply problems pushing up prices, there has also been growing demand.

Increasing wealth in China, for example, has led to consumers eating more meat, which means more grain is needed to feed farm animals...............
SubjectAuthorViewsPosted

SC62

Wizard 1318February 21, 2008 08:35PM

Re: SC62

Wizard 776February 21, 2008 09:38PM

Re: SC62

Wizard 698February 24, 2008 04:34PM

Re: SC62

Wizard 740February 24, 2008 09:58PM

Re: SC62

Wizard 834February 24, 2008 10:51PM

Re: SC62

Wizard 823February 25, 2008 10:17PM

Re: SC62

Wizard 822February 26, 2008 07:49PM

Re: SC62

coyote 1432March 26, 2008 05:43PM

Re: SC62

Wizard 860February 26, 2008 07:59PM

Re: SC62

Wizard 849March 01, 2008 11:27PM

Re: SC62

Wizard 864March 01, 2008 11:38PM

Re: SC62

Wizard 859March 02, 2008 03:24PM

Re: SC62

Wizard 776March 04, 2008 11:07AM

Re: SC62

Wizard 728March 05, 2008 10:03PM

Re: SC62

Wizard 792March 07, 2008 10:15PM

Re: SC62

Wizard 949March 07, 2008 10:50PM

Link to McCain's Op-Ed "War is Hell. Now Let's Get On With It"

Anonymous User940March 12, 2008 04:49PM

Re: SC62

Wizard 810March 10, 2008 09:47PM

Re: SC62

Wizard 834March 12, 2008 06:56PM



Sorry, only registered users may post in this forum.

Click here to login