Record wheat prices rise despite giant crop
The Minneapolis Grain Exchange saw wheat climb to new highs as global demand and export controls pressure prices despite a 1.7 billion bushel U.S. crop. Officials warn bread and cereal costs will likely rise with flour up about 40 percent per hundredweight.
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Minneapolis
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Pillsbury head warns of very small wheat reserve
Pillsbury executive Anthony C. Owens says only 140 million bushels of wheat will remain in the United States by July 1 next year. He notes two thirds of this year’s crop is bound for export, leaving little room for domestic needs and predicting a severe price squeeze if exports stay strong.
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Pillsbury Co
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