Wheat Prices Soar. Are Bread Prices Next?

According to CNNMoney.com, “With wheat futures soaring to their highest level in two years, you could soon find yourself paying more for a loaf of bread at the local grocery store.”

“The price of wheat has surged more than 80% from its seven-month low in June, rallying to its highest level since August 2008 this week, as Russia said it would ban grain exports until Dec. 1 due to a drought that has destroyed more than 20% of its wheat crop. Prices retreated Friday but still remain up 10% for the week.”