A 50% fearful hike

July 29, 2017 at 1:16 PM , Mark Overseas
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An increase in the prices of wheat

A drought in Chicago has lead to an increase in the prices of wheat by almost 50% which is terrifying for the traders and other players in the market.

In Europe, attention was focused on Germany where incessant rain has held up wheat harvesting and threatened to damage crop quality. With rise in the prices of wheat there is direct connection to the rise in the bread prices. According to the flour industry the prices hovered around the $8.50 to $7.50 per bushel. 

The Philippines buys about 95 percent of its milling wheat requirements from the United States and the rest from Canada and Australia.

Seventy percent of the country’s flour requirement goes to bread production, while the rest goes to noodles manufacturing and other uses.

Wheat is going to be a major changer game in the prices of staple grain & food.

 

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