Andrew Grosset wrote: > Wheat Soars to Record as U.S. Stockpiles Head for 60-Year Low > > Feb. 11 (Bloomberg) -- Wheat futures in Chicago breached $11 a bushel for the > first time, rising by the exchange-imposed daily limit for a sixth day after > the U.S. forecast its lowest inventories in 60 years. > > Stockpiles in the world's biggest exporter will drop to 272 million bushels > at the end of May, 6.8 percent less than expected a month ago and down 40 > percent from a year earlier, the U.S. Department of Agriculture said in a > report Feb. 8. Inventories will be the lowest since 1948 when farmers grew > less and shipped supplies overseas to help countries rebuild after World War > II. > > http://www.bloomberg.com/apps/news?pid=20601087&sid=ah7IZrnlONFE&refer=home >
That article doesn't imply that the increase in price is connected to Biofuel production, even if it is. Causes in the article include: Increased demand: "Exporters of the grain are expected to ship 3.9 percent less wheat in the marketing year because more countries are retaining domestic supplies to ensure food prices stay low. That's stepped up demand for U.S. exports." Decreased supply: "Wheat for March delivery in Kansas City also rose by the exchange limit of 60 cents to a record $12.0025 a bushel. The price has more than doubled in the past year after an April freeze followed by excessive rain curbed yields." Ethanol is mentioned at the end of the article as it relates to corn prices in Austrailia, but not wheat. -Cameron ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;160198600;22374440;w Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:253890 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
