Commentary According to an old joke from the socialist and frequently underfed Soviet Union, Stalin goes to a local wheat farm to see how things are going. “We have so many bags of wheat that, if piled on top of each other, they could reach God himself!” the farmer told Comrade Stalin. “But God does…

Wheat prices spiked after a Russian announcement that it would withdraw from the Black Sea export agreement, a decision which is expected to have a negative impact on the market. On Monday, the most active contract on the Chicago Board of Trade (CBOT) rose by 5.7 percent as of 4:16 a.m. EDT, to trade at…

Copper prices fell below $7,000 per ton during July 15 trading at the London Metal Exchange for the first time since November 2020, worsening concerns about a looming global recession. The price decline was triggered by fresh data from China which showed the country’s economic growth slowed down in the second quarter, registering only a…

BEIJING—Chinese consumers are likely to have to pay more for food staples like noodles and bread this year, as record wheat prices in the world’s top consumer of the grain get passed on to food makers, traders and analysts said. Wheat harvested in China in recent weeks is being sold at around 3,200 yuan ($477)…

Some farmers are trying to balance higher fuel prices with higher wheat prices. Skyrocketing Gas Prices Are Hitting Everyone Where It Hurts — The Bigger Your Tank, The Harder The Hit. For Farmers Who Have Equipment With Thousand Gallon Tanks, One Fill-Up Is Astronomical. Since Fuel Isn’t The Only Thing Seeing A Price Hike —…

Global wheat prices have skyrocketed since Russia launched an invasion of Ukraine on Feb. 24. Russia and Ukraine together export 26 percent of the world’s wheat (pdf), according to the U.S. Department of Agriculture (USDA). Due to the war, the three largest shipping companies in the world suspended bookings to and from Russia. In addition,…