Grain, Soybeans Rise as Food Riots Spur Demand for US Exports

Prices for wheat, soybeans, corn and other food staples continue to climb as more counties increase purchases from the US. Rising prices combined with high unemployment rates and governments long run by family dynasties have spurred protests in Egypt, Algeria, Morocco, Yemen, Jordan and elsewhere. The United Nations warns that stockpiling crops or restricting food exports could add to the unrest. Commodities traders watch China’s consumption closely – as the eating habits and trade for China are a “wild card,” report Jeff Wilson and Whitney McFerron. The world’s most populated nation is increasingly a net importer of some crops, leading to wild price swings, as the rising middle class spends more on food and adds more meat to diets. – YaleGlobal