Fresh records for price of wheat

[freedomnorth]

Source: BBC

Wheat prices have hit record levels as supplies dwindle, raising concerns about growing food inflation.

Chicago Board of Trade (CBOT) wheat for delivery in March rose the maximum 90 cents allowed to $11.99 a bushel in electronic trading in Asia.

High-protein spring wheat on the Minneapolis Grain Exchange rose by almost 25% to record levels on Monday.

Kazakhstan has become the latest country to put export restrictions on wheat as it battles against inflation.
Russia and Argentina have already imposed similar export restrictions.

Read more: http://news.bbc.co.uk/2/hi/business/7264239.stm

[HereSince1628]

1. The good news is there is little risk of damage to winter wheat in SE Wi

It's well buried beneath the snow. For years baling and selling wheat straw was the only way to cover the cost of having it in my rotation. I can't wait to see how the harvesting costs and demurrage on the storage take all that gain away.

[NMDemDist2]

2. my FiL says the wheat looks good in Eastern WA/ Western ID too

they are quite hopeful and have sold all the futures they dare at this point

[HereSince1628]

4. I hope I've locked in reasonable futures.

But oil could go to $120 per barrel and it could all turn out disappointing.

[NMDemDist2]

5. yeah, the fuel and fertilizer bills just go up and up don't they? n/t

[HereSince1628]

6. Everything. What one hand giveth, the other taketh away.

It's only my walnut and hickory trees that keep giving without asking, and it's only a matter of time until they'll get wiped out by some pest or another.

[Mojorabbit]

3. I am glad to hear your wheat is doing well

This grain shortage is a worry to me.