Fear of Drought Causes Wheat Prices to Skyrocket

New season and old season wheat prices have rocketed in the past two months, spurred on by drought in the United States and concern over Australia’s crop this year.

The Weekly Times
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New season and old season wheat prices have rocketed in the past two months, spurred on by drought in the United States and concern over Australia’s crop this year.

Old season wheat is up almost $70 a ton, while feed barley prices have lifted by more than $60 a ton since the end of April to $238, after being in the doldrums during the most recent harvest.

However analysts warn there is still a huge global wheat stockpile and the high prices may not last.

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