Soaring grain futures prices could have implications such as higher food prices

Futures prices such as corn and wheat are skyrocketing.

In addition to unseasonable weather in producing countries, speculative funds are flowing into the grain market, and experts point out that it may have an impact in the form of food price increases. ..

Since last summer, the price of grain futures such as corn and wheat has risen on the Chicago Board of Trade in the United States, which is an indicator of the international price of grain trading.

Of these, the futures price of corn on the 4th of this month has risen 71% from half a year ago, the highest since July 2013, and due to this effect, the price of livestock feed using corn is rising in Japan as well. ..

Behind the scenes are unseasonable weather in South American producing countries, rising demand for corn-based biofuels, and speculative funding flowing into the grain market due to large-scale monetary easing by central banks in major countries. there is.

Mr. Satoshi Yoshida of Rakuten Securities, who is familiar with the commodity market, said, "The price of food for livestock is rising in Japan due to soaring grain prices, and there is a possibility that it will be affected in the form of food price increases. Prices for beef and pork are on the rise and need to be watched carefully. "