Wheat futures at the Chicago Board of Trade rose above $12 a bushel for the first time ever, as grain production fails to keep pace with growing demand. Global wheat stockpiles will likely hit a 30-year low this year, and corn a 25-year trough, the USDA predicts. “Agricultural commodities such as wheat are the place to be right now,” says analyst Eugen Weinberg at Commerzbank AG in Frankfurt. (Bloomberg)
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The Bottom Line
February 26, 2008
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