Food Enters The Commodity Super-cycle After Wheat Prices Surge

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Global food prices continue to move higher with no end in sight. Wheat prices tagged a new multi-year high; cotton, coffee, corn, and soybean oil are also surging as concerns about persistent food inflation mount
On Monday, the most-active wheat futures rose more than 3% to $7.97 a bushel on the Chicago Board of Trade, hitting 8.5-year highs. Prices have gained more than 11% since mid-October.