Will soaring US crop prices show up on a grocery shelf near you?

Prices of essential food commodities including wheat, corn and soybeans are surging to the highest levels since 2013, fuelling concerns over food price inflation.

A crop rally in the U.S. is threatening to make essential food commodities dramatically more expensive, and the costs could soon spill over onto grocery store shelves. Wheat, corn and soybeans, the backbone of much of the world’s diet, are all surging to the highest since 2013 after gains last week had some analysts warning that a speculative bubble was forming. Bad crop weather in key-producing countries is a major culprit. Dryness in the U.S., Canada and France is hurting wheat plants, as well as corn in Brazil. Rain in Argentina is derailing the soy harvest. Add to that the fears of drought coming to the American Farm Belt this summer.