Financial Times FT.com

US appetite for wheat drives 30% price surge

By Javier Blas in London

Published: August 31 2007 10:46 | Last updated: August 31 2007 18:26

Commodities prices ended the week strongly as fundamentals outweighed recent hedge-fund selling and concerns about the health of the US economy.

Wheat prices led the complex as renewed food-import demand put further pressure on extremely tight supplies. The cereal has gained almost 30 per cent in the US market this month, the largest monthly gain since August 1973.

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