Wheat prices rise to historic highs

Full story: WZZM Grand Rapids

Four months ago, a cookie at the Bakers Shoppe in Leslie cost about 55 cents. Now it's 65 cents.
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1 - 20 of 46 Comments Last updated Apr 1, 2008
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Neko

United States

#1 Mar 30, 2008
How much wheat does the USA give away every year to third world countries who hate us?

How long before Americans wait in long lines for bread?(Just like back in the USSR?)

Fight back....plant a Victory Garden!
Daniel G

United States

#2 Mar 30, 2008
What is going to happen SOON is this, the commodity prices reach a breaking point, already has in some countries...and people start food riots...already have in some countries.
The falling value of the dollar has A LOT to do with it. When you drop interest rates..that makes the dollar value fall in relation to their countres monies. Now we love lower intrest rates don't we? But that makes the dollar worth less and makes for other countries free currency to speculate in our commodities...and drive up prices here.
Make the dollar rise in value, oil prices fall, gold falls, oilseeds, grains fall. What do you want?
I for one would like a stronger dollar, lower prices and more money in my pocket cause I ain't gettin a raise that matches the dollars fall!(thats called INFLATION by the way)
The biggest thing we can do? STOP THE DRAIN OF 10 to 13 BILLION DOLLARS A MONTH GOING INTO THAT BLACK HOLE CALLED IRAQ! The biggest mistake since VietNam and now its coming home to bite EVERYONE in the back pocket. Our government just prints more dollars to cover it. The Chinese back it...and it goes on and on down the dark dirty path of ruination.
Stop the War...that stops a lot of the drain on our dollar.
Now for todays lesson on arab Geopolitics I wan't you all to rent Lawrence of Arabia and pay attention to it. A great lesson the British learned in the 20's that GWB cannot grasp yet.
Dan in Rockford
Donzi 43

Bay City, MI

#3 Mar 30, 2008
No!! Send more subsidies to the farmers for even higher prices and send more free grain to the Arabs, pay hyper high gas prices so they can nuke us. Bush needs a real reason to destroy and rebuild another innocent country so Cheney can get even richer. The real looser was the American voter in 2004.
monster477569495 93

Canada

#4 Mar 30, 2008
prices are dropping and are to low for wheat.IF you want to keep up with inflstion wheat should be around 80 dollars a bushel. 1974 prices was 6 usd 1918 about 2.20 usd now 12 usd. spring wheat

“Dude, Where's my car?”

Since: Jan 08

Location hidden

#5 Mar 30, 2008
Why is this a big surprise? Millions of acres of crop-land has been taken out of food production and are in corn used to make ethanol (how stupid of a country can we be to turn our food into fuel). Diesel fuel is over 4 bucks a gallon so in every step of the Distribution process, from the farm to the store shelf, cost much more to transport so naturally the cost of transportation is going to be tacked on to the cost of food. Until these two primary factors in food cost change (and I doubt they will) the cost of every food item is going to continue to go up.
Wide_Stance

Troy, MI

#6 Mar 30, 2008
I agree with Hurley and the price of food has fluctuated and always gone up over the long term, but the rate at which it's increased over the last 12-18 months is crrrrrrrraaaaaaaaaaazzzzzzzzzy y. What do you think will happen to wages?

“Dude, Where's my car?”

Since: Jan 08

Location hidden

#7 Mar 30, 2008
Wide_Stance wrote:
I agree with Hurley and the price of food has fluctuated and always gone up over the long term, but the rate at which it's increased over the last 12-18 months is crrrrrrrraaaaaaaaaaazzzzzzzzzy y. What do you think will happen to wages?
Wages? That's an easy one. As long as this country continues to allow companies to move production over-seas with no import duties, wages will continue to decrease.
Sam the Wal-Mart Man

Madison, WI

#8 Mar 30, 2008
Corn is still cheap, compared to wheat.
Use more corn products, than wheat products.
The Indians of North and South America used only corn for how many thousands of years before the Europeans showed up?

“Dude, Where's my car?”

Since: Jan 08

Location hidden

#9 Mar 30, 2008
Sam the Wal-Mart Man wrote:
Corn is still cheap, compared to wheat.
Use more corn products, than wheat products.
The Indians of North and South America used only corn for how many thousands of years before the Europeans showed up?
Corn is cheap??? You'd better do a reality check. Why do you think so many farmers have switched their acreage from wheat to corn? Because Corn is high. They make more money. Can't really blame them (the farmers). The idea of cheap corn went out the window with the ethanol craze.
Sam the Wal-Mart Man

Madison, WI

#10 Mar 30, 2008
Hurley35 wrote:
<quoted text>Corn is cheap??? You'd better do a reality check. Why do you think so many farmers have switched their acreage from wheat to corn? Because Corn is high. They make more money. Can't really blame them (the farmers). The idea of cheap corn went out the window with the ethanol craze.
In comparision to wheat, corn is cheap.
Wheat is about $12, corn is $6 thats per bushel

“Dude, Where's my car?”

Since: Jan 08

Location hidden

#11 Mar 30, 2008
Sam the Wal-Mart Man wrote:
<quoted text>
In comparision to wheat, corn is cheap.
Wheat is about $12, corn is $6 thats per bushel
OK, now go compare bushels per acre and you'll see why farmers are dumping wheat if favor of corn.
joane

Holland, MI

#12 Mar 30, 2008
thank AL gore and the liberal tree huggers, farmers all over the country are switch from wheat to corn because corn is at a high price because of the new demand for corn....to make fuel.
less crop means higher prices.
soooo, corn increases and so does wheat simply because of demand.
then, gas prices must rise, so delivery cost must rise.
and the whole endless circular starts again.

thank a tree hugging liberal and AL bore

Since: Oct 07

United States

#13 Mar 30, 2008
Hurley35 wrote:
Why is this a big surprise? Millions of acres of crop-land has been taken out of food production and are in corn used to make ethanol (how stupid of a country can we be to turn our food into fuel). Diesel fuel is over 4 bucks a gallon so in every step of the Distribution process, from the farm to the store shelf, cost much more to transport so naturally the cost of transportation is going to be tacked on to the cost of food. Until these two primary factors in food cost change (and I doubt they will) the cost of every food item is going to continue to go up.
You are so on target here, this green energy BS is such bunk. Why can't the government see that if a product or service has to be subsidized to survive it is not economically viable?

I swear we are governed by a bunch of ignorant morons. I guess this is what happens when most of the people in our government have never had real jobs.

Of our three presidential candidates not one has had a job in the private sector....

Folks, it's only going to get worse.....
anti-socialist

Holland, MI

#14 Mar 30, 2008
fire, recall or vote every last liberal socialist politician out of office.
fire every liberal teacher and professor.
boycott every liberal Hollywood actor and their movies.
refuse to watch liberal owned TV programing and media events.
refuse to watch liberal owned news stations.

THINK ON YOUR OWN and letting the libs think for you.
liberals hate individualism
the next time a PC liberal smoke Nazi tells you that you cant have a smoke in a public area, tell the lib your an American and some stinking socialist liberal traitorous scum bag and to go screw them selfs

Since: Oct 07

Big Rapids, MI

#16 Mar 31, 2008
Hurley35 wrote:
<quoted text>OK, now go compare bushels per acre and you'll see why farmers are dumping wheat if favor of corn.
Good points, now add in the gov't subsidy for ethanol production which pays the farmer even more above the quoted price.

This may level off some this coming year though. A report from ADM (Archer-Daniels-Midland) says that the subsidy has maxed out now. Without the incentive ethanol production may have topped out in the USA for now.

Since: Mar 08

Rockford, MI

#17 Mar 31, 2008
Hurley35 wrote:
<quoted text>Wages? That's an easy one. As long as this country continues to allow companies to move production over-seas with no import duties, wages will continue to decrease.
I agree Hurley,Why arent we charging them as much for wheat as they do us oil? And other products not just oil? WE have to have a president in office to say this sh.it isnt going the way it has been. It has to be a fair playing field here.
Batch 37 Pain is Good

Barnesville, OH

#18 Mar 31, 2008
tampabay wrote:
<quoted text> I agree Hurley,Why arent we charging them as much for wheat as they do us oil? And other products not just oil? WE have to have a president in office to say this sh.it isnt going the way it has been. It has to be a fair playing field here.
Food for oil! Oh, we tried that.

Since: Mar 08

Rockford, MI

#19 Mar 31, 2008
Batch 37 Pain is Good wrote:
<quoted text>
Food for oil! Oh, we tried that.
Yeah ,But it would be nice !

“Don't touch my junk man!”

Since: Nov 07

Middle of the Mitten, Michigan

#20 Mar 31, 2008
BR Bean Counter wrote:
<quoted text>
Good points, now add in the gov't subsidy for ethanol production which pays the farmer even more above the quoted price.
This may level off some this coming year though. A report from ADM (Archer-Daniels-Midland) says that the subsidy has maxed out now. Without the incentive ethanol production may have topped out in the USA for now.
The farmer receives absolutely NO subsidy for growing corn for ethanol. The ethanol plants receive tax incentives, Joe Farmer does not.

Wheat prices have DROPPED 4 dollars off their highs set earlier this month, why is this article coming out NOW?!

Corn acres have been CUT from last year to this year, while wheat acres are up here in the United States by about 3 million acres, and worldwide by an equally hefty level.

Corn prices went up because of an increase in demand. Part of it was because of ethanol, yes, but most of it came as a result of worldwide production problems for all feed grains.

To point at one piece of the fundamental puzzle and say definitively that THAT'S the reason for the price increases is foolish, absolutely foolish and you guys know that. It's the same in every market and the volatility will do nothing but continue.

“Don't touch my junk man!”

Since: Nov 07

Middle of the Mitten, Michigan

#21 Mar 31, 2008
Hurley35 wrote:
<quoted text>OK, now go compare bushels per acre and you'll see why farmers are dumping wheat if favor of corn.
That's easy to do on the outside looking in, but take a look at input costs, and you'll see corn is actually still relatively cheap. Fertilizer costs alone have increased 200% or more, not to mention land costs, diesel prices, herbicides and fungicides etc.

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