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Wheat prices reach record level
Poor weather - from droughts to floods have cut harvest forecasts
Wheat prices have hit record highs on global commodity markets, bringing the threat of rising bread prices.
Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall.
Surging prices are also expected to have widespread fallout for consumers.
While it will mean higher bread prices, it could also trigger an increase in meat and dairy prices as farmers battle to pass on rising feed costs.
Global wheat stockpiles will slip to their lowest levels in 26 years as a result, official US figures predicted earlier this month.
Output fall
The dire forecast came as Canadian officials said the country expected its harvest to be slashed by a fifth as a result of drought.
Meanwhile, its rival Australia - the world's third-largest wheat exporter and a key supplier to Asian regions and South America - has also warned harvests may be reduced by warmer-than-expected temperatures experienced in the spring
http://news.bbc.co.uk/2/hi/business/6962211.stm
Poor weather - from droughts to floods have cut harvest forecasts
Wheat prices have hit record highs on global commodity markets, bringing the threat of rising bread prices.
Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall.
Surging prices are also expected to have widespread fallout for consumers.
While it will mean higher bread prices, it could also trigger an increase in meat and dairy prices as farmers battle to pass on rising feed costs.
Global wheat stockpiles will slip to their lowest levels in 26 years as a result, official US figures predicted earlier this month.
Output fall
The dire forecast came as Canadian officials said the country expected its harvest to be slashed by a fifth as a result of drought.
Meanwhile, its rival Australia - the world's third-largest wheat exporter and a key supplier to Asian regions and South America - has also warned harvests may be reduced by warmer-than-expected temperatures experienced in the spring
http://news.bbc.co.uk/2/hi/business/6962211.stm
