Wheat Prices Crashing = No Inflation = Gold and Silver Crash Coming
Benchmark prices for wheat fell to an eight-month low at the Chicago Board of Trade this week as snowstorms in the U.S. spurred hopes of a recovery for drought-affected crops.
The U.S. Department of Agriculture said global wheat production may reach a new record in the coming year, replenishing tight supplies and raising the chances for further price falls.
"If not a record crop, then certainly we can expect a return to the levels we have seen in recent years," said Department of Agriculture Chief Economist Joseph Glauber in an interview with Dow Jones Newswires late Wednesday.