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Wheat soars most in 20 years on federal reserve’s rate decrease

Posted on 30 October 2008

From Bloomberg: Wheat rose the most in at least 20 years on speculation the Federal Reserve and European Central Bank would cut interest rates, increasing liquidity and freeing up capital that will allow buyers to purchase U.S. supplies.

Investors bought baskets of commodities including energy, metal and grain futures on expectations the Fed would cut its benchmark lending rate. After markets closed, the central bank reduced the rate to 1 percent from 1.5 percent, which may encourage borrowing and spur overseas importers to purchase U.S. grain….. Full Article: Source


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