Wheat Prices Climbing Amid Global Drought

WICHITA, Kan. (AP) – A global drought in major wheat-producing countries coupled with the lowest world grain stocks in a quarter century are fueling rising wheat prices amid predictions of shortages, farm economists said.

“It has been a steady climb,” Mike Woolverton, a grain marketing economist at Kansas State University said Thursday, adding that he expects prices to continue rising.

Among the latest indicators is a 10-day forecast for the Great Plains showing hot and dry weather, he said.
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