# Food Prices Near 2-Year High Thanks to a Record Surge in Butter and Wheat - Bloomberg

> A global food price index rose 1.4 percent to near a two-year high, led by record gains in butter and wheat. Wheat futures surged after hot, dry weather in the US and Europe. Dairy export availability also pushed up butter and cheese prices.

- Date: 2017-07-06 · published 2017-07-06T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/6181-food-prices-near-2-year-high-thanks-to-a-record-surge-in-butter-and-wheat
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weather-driven wheat gains raise feed grain costs, while dairy price increases affect milk-based feed ingredients. Buyers face higher input costs across the feed complex.

## Read by commodity

- MILK: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-07-23 | [Heat Worries US Wheat Farmers Just as Crop Prices Surge - Bloomberg](https://feedsoft.ai/events/18406-heat-worries-us-wheat-farmers-just-as-crop-prices-surge-bloomberg.md) | -2.5% | +2.2% |
| WHEAT | 2026-09-21 | [Wheat prices near multi-year highs as war, weather, and harvest shortfalls converge By Investing.com](https://feedsoft.ai/events/9695-wheat-prices-near-multi-year-highs-as-war-weather-and-harvest-shortfalls.md) | +3.2% | +0.7% |
| WHEAT | 2020-10-20 | [Wheat’s Drought Battle and Surging Demand: Why Prices Are Flying - Bloomberg](https://feedsoft.ai/events/50682-wheat-s-drought-battle-and-surging-demand-why-prices-are-flying-bloomberg.md) | +0.0% | -4.6% |
| WHEAT | 2021-06-29 | [Extreme heat wallops wheat and canola crops, pushing prices to record highs \| CBC News](https://feedsoft.ai/events/46626-extreme-heat-wallops-wheat-and-canola-crops-pushing-prices-to-record-highs-cbc.md) | -1.2% | -4.3% |
| WHEAT | 2020-05-15 | [Wheat prices have started to recover thanks to the speculators](https://feedsoft.ai/events/53181-wheat-prices-have-started-to-recover-thanks-to-the-speculators.md) | +0.5% | +0.7% |
| MILK | 2016-11-01 | [Milk price surges to highest point in 2 years - NZ Herald](https://feedsoft.ai/events/4649-milk-price-surges-to-highest-point-in-2-years-nz-herald.md) | +14.8% | +13.4% |
| MILK | 2019-06-06 | [Weekly Digest II: Class III and IV milk prices move to two-year highs; ‘forage crisis’ looms - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/58736-weekly-digest-ii-class-iii-and-iv-milk-prices-move-to-two-year-highs-forage.md) | +1.2% | +7.4% |
| MILK | 2019-02-20 | [International prices for milk and dairy products](https://feedsoft.ai/events/9987-international-prices-for-milk-and-dairy-products.md) | -0.3% | +6.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-07-06/record-butter-and-wheat-surge-puts-food-prices-near-2-year-high

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.