The UN Food and Agriculture Organization (FAO) in Rome, in its monthly world food [price indices released Aug. 8]( https://www.fao.org/worldfoodsituation/foodpricesindex/en/), reports that from June to July, world grains prices overall increased 3.8%, and wheat prices surged by 5.8 percent. Wheat is up 9.9% over same time last year, which not only is high and expected to rise still higher, but in “theory,” this is the wheat harvest time in the Northern Hemisphere, when world wheat prices would otherwise be expected to drop.
Of course, the pressures for prices of grain, and wheat in particular, to shoot up, are dramatically evident—from high prices and scarcity of fertilizer, fuel and other essential costs of production—to the disruption in shipping at many points internationally.
