"The price of wheat has surged in the past month because of constraints to global supply and swelling demand from places such as China. But its volatility is as much of a concern as its price.
Spring wheat for March delivery fell $1.75 Thursday to close at $18.25 a bushel on the Minneapolis Grain Exchange. It traded as high as $25 a bushel this week. Wheat historically trades at $3 to $7 a bushel."
I'm not sure about the quote from Fox news; it does not agree with current sources of commodity info. But, we are seeing grain prices go up on almost every order we place.
Global demand (China), poor harvest in Australia and Argentina, demand for ethanol, and fuel prices all have an effect on all of the grain prices.
The ethanol program is causing more farmers to divert acreage to corn, where prices are better for them.
Of course, fuel prices affect EVERYTHING. Fuel moves products to the farm, around the farm, from the farm to the grain elevators, from the grain elevators to wharehouses and manufacturers, from the warehouses out to the retail customers.
We believe prices will stabilize, eventually. In all cases, though, freshly made bread is still way more nutritious than what you buy at the store!
