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Wheat fell for a third day in its biggest collapse since 2008 and rice fell as traders speculated that riots in North Africa and the Middle East will curb demand from regions buying 32 percent of global shipments.
Wheat, rice, corn and soybeans fell by the most allowed by the Chicago Board of Trade yesterday as violence escalated in Libya. Leaders were already toppled this year in Tunisia and in Egypt, the world’s biggest wheat importer.
Originally posted by BearTruth
This is definitely one big roller coaster ride. I don't know which side to cheer for. First the huge story of world food shortages, and prices escalating thru the roof. Now prices tanking on the food because of anticipated decline in demand. Quite honestly, with the fluctuations of currency, futures and supplies globally, I think ANYTHING can and will happen.