The price of a loaf of bread could be on the increase following a rise in wheat prices.

Reports suggest that the price of wheat at the Chicago Board of Trade Exchange has increased to $487 a bushel - its highest price in ten years.

Michael Lewis, global head of commodities research at Deutsche Bank, said: “Wheat has been a bullish story for a year but since corn and wheat prices still remain 100% and 50% below their 1996 highs, we believe there is further upside ahead.”