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Food Prices Plummet

The US dollar is up for the 7th week in the last 8 posting a gain of +0.74% on the US Dollar Index. As the dollar continues to strengthen, commodity prices will continue to fall lower, which is a positive for consumption and in turn, is a positive for global growth. Food prices got pulverized last week with wheat, corn and soy dropping -5.8%, -4.3% and -2.5%, respectively, on a week-over-week basis. When you go grocery shopping next month, you're bound to see a material change in the price of food you shop for. That's the power of a strong dollar at work.

Food Prices Plummet  - food prices