Plains drought to curb U.S. wheat harvest, adding to global supply worries
U.S. hard red winter wheat represents nearly half of the country's overall wheat production and is milled mainly for bread flour. A reduced crop could further stoke food inflation that the United Nations Food and Agriculture Organization (FAO) said was the highest-ever in February. The FAO's Food Price Index averaged 140.7 points last month, a 20.7% increase from a year earlier and surpassing the 2011 record.