Friday, February 8, 2008

Wheat Goes Parabolic: "Highest Price in U.S. History"

From the St. Paul Pioneer Press:

The highest wheat price in U.S. history - more than $15 a bushel - was reached Thursday in Minneapolis as a trading frenzy inflames the grain markets, fans fears of spiking food costs and revives worries about food shortages.

With wheat stockpiles dwindling, a worldwide scramble is under way for bushels of high-protein spring wheat, the variety grown in Minnesota and the Dakotas and traded at the Minneapolis Grain Exchange. Already, spring wheat prices have tripled in the past year and are poised to move even higher....MORE

Here are some of our posts on wheat:
Making Ethanol from Wheat is Stupid

Market slices,Crisis in Prices: Wheat

Cash In On Rising Food Prices

Ensus Wheat Ethanol Plant Construction On Plan, Despite Odds

Food Riots in Indonesia. And "Thieves Target Kansas Grain Elevators"

Japan to Increase Emergency Stockpiles of Grains, Yomiuri Says

The End of Cheap Food- What was Old is New Again AND: Profiting from Politics

The Dynasties that Own Manhatten

Get ready to ante up more for beer