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Crop Prices Soar to 8-Year High, Renewing Food Inflation Fears

  • Corn zooms by exchange limit; soybeans rise for 10th session
  • Fear about worsening food inflation grows amid price surges
     
Photographer: Daniel Acker/Bloomberg
Updated on

A crop rally in the U.S. is making essential food commodities dramatically more expensive, and the costs could soon spill over onto grocery store shelves.

Wheat, corn and soybeans, the backbone of much of the world’s diet, are all surging to highs not seen since 2013 after gains last week had some analysts warning that a speculative bubble was forming.