Yesterday’s Financial Times says that US wheat inventories fell to a sixty year low and may even force the US to import wheat this year.  Apparently it had sold too much wheat last year and now will have to replenish stocks.  That news drove prices for certain varieties of wheat up nearly 11% last week and 50% so far this year.  There are also estimates that India, the world’s second largest wheat consumer, may have to import significantly more wheat than in the past, beginning in April this year.