Reported 5 months ago
The article discusses how an index of major crops has erased its 2024 loss due to bad weather affecting harvests from wheat to coffee, leading to concerns about rising food prices. Factors like droughts, frosts, and heavy rain in key growers are threatening tighter supplies and increasing the cost of agricultural staples. This has caused a Bloomberg gauge tracking nine farm commodities to turn higher on the year, with Chicago wheat futures trading near the highest since July, robusta coffee prices on the rise, and orange juice setting new records due to weather-related issues. Cocoa futures are also expected to remain high throughout the current season.
Source: YAHOO