Wheat hit a record high $10.33 per bushel this morning. The same bushel would have cost you about 5 bucks in June… yikes! The grain also surged to record or near-record highs in other exchanges in North America and Europe. “Wheat prices are soaring once again,”but that’s not all. “Because of a weather event in Canada and overall global demand, corn is ratcheting higher on the new ethanol mandates, and soybeans… fugetaboutit; soy oil, soy meal… anything soy is the big story this year. Regardless of how much is planted, look for bean prices to continue north. “Bottom line is if you don't have some of these trades in your portfolio, you are not going to benefit from one of the biggest booms of all time. As my friend Scott calls it, it's farmaggedon!”
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