Chicago December wheat futures reached record highs last week and surpassed $8 US per bushel at one point Aug. 21.
In Paris, wheat also touched a record high.
Tight supplies and unrelenting demand from buyers worried about the possibility of even higher prices kept prices on the boil.
“Everything has its limit, but wheat’s seems to be pretty high as there are obviously very hungry buyers out there,” one European trader told Reuters News Agency.
The world grain trade is now turning its attention to the Southern Hemisphere as dry conditions threaten wheat crops in Argentina and Australia.
For more on wheat markets, see this week’s Markets section, starting on page 6.
