Chart of the week: wheat mountain weighs on prices

In 2008, wheat prices briefly spiked above $13 a bushel, sparking food riots in emerging markets. Since then, they have slumped by more than 70%.

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In 2008, wheat prices briefly spiked above $13 a bushel, sparking food riots in emerging markets. Since then, the price of the world's most commonly consumed food grain has slumped by more than 70%, with benchmark US futures now at a ten-year low below $4, says Gregory Meyer in the FT.

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