Wheat & Grain Prices Soar
There is something quite a bit disconcerting about the fact that organicconsumers.org has published an article that wheat futures have greatly increased, and that this has lead to speculation that prices will continue to rise for the grain that is used to make such commodities as pastas, breads and the like. Other commodities, including crude oil and silver have also gone higher in price, which just goes to show that wheat is not the only product suffering here. Or, perhaps we should say, those purchasing wheat will be suffering just as much as those filling their cars with gas.
The article goes onto say that “Wheat prices have surged 34 percent since the start of year, pushed higher by growing world demand, tight supplies and bad weather that has pummeled crops in Canada, Argentina and India” and adds that “U.S. exporters are selling wheat a record pace to meet demand, rapidly depleting stockpiles. The Department of Agriculture expects U.S. wheat inventories will total 272 million bushels by the end of May - the lowest level in more than five decades.” This is indeed unhappy news, so perhaps we should all start weaning ourselves off of wheat products now?
Certainly makes the sustainable living idea even seem a little risky if our grain crops might come to peter out on us, right?
Leave a comment