Russian Grain Prices Affect Your Grocery Bill
What do Russian grain prices have to do with your grocery shopping in Texas? Food commodities are ample in the U.S. and supplies are plentiful. But shortages overseas, like wheat hoarding in Russia and flooding in Europe are causing a dramatic rise in commodity prices. SMU economist Bud Weinstein says we may feel the impact with higher grocery prices here this fall. He says we’re part of the global economy. In the last six months there have been huge price increases for commodities like wheat,corn, soybeans and coffee. But it could be good news for Texas farmers as demand for exports increases.