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Wheat Prices Rise as China’s Need Increases 12/20/2010

Wheat prices rise- china food inflationAs reported by Bloomberg this morning, wheat prices have increased the most in two weeks due to speculation that China, will import more wheat in efforts to curb food inflation. China, the world’s largest producer and consumer, is on track to import 4.45 million metric tons, of wheat or 500,000 more tons than last year.

As food prices continue to rise in China, it is predicted that they will work to rebuild their grain stocks  to curb inflation and fears of a food shortage. Wheat is the fourth-largest crop in the United States and was valued at $10.6 billion in 2009.

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