[#Wheat prices rise to new highs in nearly 14 years#Situation in Ukraine causes #Multi-country bread prices to rise#] Ukraine and Russia are the world's leading wheat exporters. As the situation in Ukraine escalated and wheat prices rose to nearly 14-year highs, consumers around the world had to spend more money on bread. Even in the United States and Canada, wheat growers far away in North America, soaring wheat prices have put "pressure" on bakery owners and flour millers. In response to problems such as dwindling flour inventories and rising costs, many bakery owners have had to raise the price of bread and shift the increased costs to consumers. Rob McKay, president of the American Baked Goods Industry Association, said that in the short and medium term, the price of baked goods and grains in the United States will continue to rise.
