Wheat prices soar. Are bread prices next?

By doris | Published: August 6, 2010

Full Story at money.cnn.com

NEW YORK (CNNMoney.com) — With wheat futures soaring to their highest level in two years, you could soon find yourself paying more for a loaf of bread at your local grocery store.

The price of wheat has surged more than 80% from its seven-month low in June. Prices continued to rally Thursday, surging to their highest level since August 2008, after Russia said it would ban grain exports until Dec. 1 due to a drought that has destroyed more than 20% of its wheat crop.

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