Source: Financial Times, 24th November 2011

Supermarkets looking for a boost this Thanksgiving were in luck. The price of turkey meat has risen by about 6 per cent in the past year. But that was one exception to a developing trend. Since August, futures prices for soyabeans have lost 5 per cent, corn 23 per cent, and wheat 25 per cent. Over the same period, the UN Food and Agriculture Organisation's food price index - which rose by more than a third in the second half of last year - has lost 6 per cent. It appears that the second food price boom of the past five years has lost steam.