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Grocery Prices to Spike in Coming Weeks


680 News is reporting that prices of some groceries are set to rise in the coming weeks.

The CBC is reporting that this is largely due to the unprecedentedly high price of wheat. In Canada, we're expected to be facing a 20% smaller wheat crop this year, and around the world the weather is being fingered in an expected low-yield wheat harvest.

Corn prices are also up, for a different reason - biofuels have been putting increased demand on the corn supply, cutting into what is available for market and animal feed.

This means that grain-based foods will be rising in cost, and keep in mind that in the agricultural world "grain-based" means meat even more than it does bread.

(Photo: At the Food Market by jsaneb from the blogTO Flickr pool.)


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