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)
The Bottom Line
February 26, 2008
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