Posted AT 8:53 AM EST on 28/09/07
Wheat prices climb to new high
Wheat prices climbed to record levels yesterday after the International Grains Council predicted that inventories in the five biggest exporting countries will drop to a 34-year low. Corn and soybean prices are also on the move. And that doesn't bode well for consumers when they go to grocery stores this winter.
The December contract for wheat on the Chicago Board of Trade (CBOT) traded as high as $9.4675 (U.S.) a bushel yesterday before settling back to close at $9.33.
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