– Wheat Jumps To Nine-Month High On Fears Of Dwindling Global Stockpiles:
https://archive.is/QW5xN
During the Memorial Day holiday break, food inflation was certainly on the minds of those who had to purchase beef patties and other BBQ-related items for outdoor parties. The Biden administration has deflected rampant food inflation on ‘greedy’ corporations, but more likely due to supply constraints. Beef and egg prices are climbing, and staples like orange juice, cocoa beans, and coffee are skyrocketing. Now, the latest soft commodity that is pushing higher is wheat.
Bad weather across the world’s top growing regions, including the driest May in Ukrainian records, lack of rainfall in Western Australia, and unseasonably cold weather in Russia, has sent wheat futures in Chicago to a nine-month high.
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