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Tuesday, February 1, 2011

An era of cheap food may be drawing to a close - Business - Retail - Food Inc. - msnbc.com

An era of cheap food may be drawing to a close - Business - Retail - Food Inc. - msnbc.com: "U.S. grain prices should stay unrelentingly high this year, according to a Reuters poll, the latest sign that the era of cheap food has come to an end.

U.S. corn, soybeans and wheat prices -- which surged by as much has 50 percent last year and hit their highest levels since mid-2008 -- will dip by at most 5 percent by the end of 2011, according to the poll of 16 analysts.

The forecasts suggest no quick relief for nations bedeviled by record high food costs that have stoked civil unrest. It means any extreme weather event in a grains-producing part of the world could send prices soaring further."

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