Agricultural prices are rising on the back of rampant speculation and weather conditions that have slammed output worldwide. This isn't just hitting market, but is pushing up prices at grocery stores and restaurants too.
The rise in wheat prices is going to have a negative impact on countries that import large amounts of wheat, like Egypt.
But in countries that export the stuff, high prices might mean big returns for producers.
And with the USDA forecasting a 10% decline in global inventories, due to reduced planting in Russia, those making wheat should continue to benefit from higher prices.
Many of the top exporters consume large amounts domestically, and foresee weak harvests in 2011 due to bad weather.