Wheat prices have seen the biggest one-month jump in more than three decades on the back of a severe drought in Russia, prompting warnings by the food industry of rising prices for flour-related products such as bread and biscuits. Food executives are also warning about surging prices for feeding and malting barley, which could push higher the retail cost of products
Bloomberg Wheat headed for the biggest weekly gain in half a century ....Wheat prices have doubled in less than two months as drought slashed the harvest in Russia, the third-largest grower, and rains cut Canadian output. The surge may herald a new food crisis as corn and other staples jump, said a trade group from Indonesia, Asia's top wheat buyer."This situation is reminiscent of the irrational moves already seen in the past, for example at the start of 2008,"
Why? Greed... no longer amount wiping our homes, now they want our food.
MarketWatch Commodity ETFs: Toxic, deadly, evil are rapidly becoming a malicious virus breeding chaos in the global markets pricing all commodities: food, farm lands, metals, oil, natural gas, livestock, water and other natural resources are the assets under commodity derivatives and their ETFs, pricing that's now controlled more by Wall Street speculators than the weather, adding wild swings in volatility and trillions in global derivative risks.
How will this affect the 1 Billion world and 12% of Americans starving ...as ALMOST HALF THE WORLD FACES WATER SHORTAGE BY 2030