Submitted by CARPE DIEM

On a recent CD post “As Share of Disposable Income, Food Is Still Cheap,” Machiavelli999 left a comment about the falling price of wheat. The graph above confirms his observation - spot wheat prices have actually fallen by 41% in the last three months from $9.36 per bushel in February to $5.54 per bushel in February, and prices are now at their lowest level in almost a year (since June 2007 when wheat was $5.34).

Updated: Prices have fallen by 41%.

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