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Food Prices Are Going Up -- Just Look at This Chart: StockTwits

NEW YORK (TheStreet) -- Food commodities have become one of the best-performing asset classes of the year.

Coffee is up roughly 65% since 2014 started. Lean hogs are up 39%, soybeans are up 14%, corn 13%, and wheat 11%. 

Tyson Foods' (TSN - Get Report) CEO, Donnie Smith, has been warning consumers about higher food prices since March. Tyson stock is reacting accordingly, too. Tyson stock is up 20% this year and crushed its latest revenue expectations on May 5. Wall Street had predicted revenue of $8.85 billion and Tyson posted revenue of $9.03 billion. 

Rising food prices can have a negative impact on an economy. It means some consumers will have less discretionary money to spend. They will have to allocate a larger sum of money to purchasing higher priced food. This is a development to watch. 

On StockTwits, a great table showed the best and worst asset classes of the year. It perfectly maps how food commodities are outpacing everything else. In fact, nine of the top 10 best-performing assets on this table are food-related:

Coffee is still the best performing asset ytd. Japan is the worst. $KC_F $JO $EWJ ? Ivaylo Ivanov (@ivanhoff) May. 20 at 11:35 AM

If you enjoyed this article, you can follow the author on Twitter and StockTwits.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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