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Natural Types The Spiritual - Wheat Supplies Disappearing Price Soaring

December 19, 2007

Wheat prices have soared above a record $10 a bushel Monday. The strong demand for the grain around the world has raised concerns over wheat shortage in the U.S. in 2008 as food prices surge to even higher levels.

The Chicago Board of Trade WH8 contract gained more than 3 percent to hit a record high of $10.09.

Partly due to a drought in Australia, wheat prices have increased twofold since last year. This has brought about fears of food price inflation in a global economic environment that is slowing.

“We think agricultural commodity prices are going to continue rising, (with the scale) depending on the climate and the state of the harvests,” said Moncef Kaabi, head of commodities research at French investment bank Natixis, reports BBC News.

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Written by Bible Prophecy End Times News · Filed Under Prophecy News Misc. 

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