The increase in prices of corn, soy and wheat is unlikely to decrease, and could stay at current levels for at least two to three decades, says a new report.
New research by two University of Illinois farm economists suggests that bakers and snack makers will continue to experience cost pressures, as we enter what the U of I researchers call "the new era of corn, soybean and wheat prices".
The new price era is based on the tethering of corn prices to gasoline prices because of bio-ethanol, said the researchers.
