Commodity prices spike – Wheat rises to $6

That $6 price was at the Scoular grain terminal east of Salina, says 

1 Jul 2015 – Farmer Mark Pettijohn, from the Solomon area, calculated the increase at $1.20 a bushel over the past 10 days, all while he was harvesting his crop.

Art Barnaby, a farm economist at Kansas State Research and Extension, offered some speculation hinged on some wild weather this spring, which drenched areas with excess moisture.

What have I been saying about fighting in the streets for food?

Thanks to Kingbum for this link.

“Here’s your proof,” says Kingbum. “These floods have caused food prices to begin to rise. For your readers especially in the US this article is an important read.”

8 thoughts on “Commodity prices spike – Wheat rises to $6”

  1. You can’t blame that on Global Warming because there has been none. But you can’t blame it on global cooling because there hasn’t been much of that either (yet).

    • They are just beginning to study “The Blob” of hot Pacific Coast Ocean which has been pushing all of the storms South and North causing them to curl up and down respectively East of the Rockies. It was probably responsible for the last two winters of Vortexes that swept across the North Easter US. No one is saying that “The Blob” is caused by MAN. On one has come up with an answer. I personally think it is caused by the Pacific Ring of Fire – Volcanic activity which has been increasing most everywhere.

  2. hmm curious this because interational newletters re food industry I get say global supply of wheat etc is high, and prices for food are dropping
    so someones fiddlin something..
    ukraines grain crops are likely to be a lot dodgy due to “issues” there ruining farmland and vehicles.
    also VERY pertinent is the fact the Banksters have been VERY busy on the quiet and ONE company now holds GLOBAL domination on ALL commodity derivatives so long or short excess or glut they will make a killing
    at OUR expense of course.
    like the famine etc in sth africa and other places. much of it is NOT due to inability to grow or supply BUT a hell of a lot to do with banks and corrupt govt as much as war and disease lack of water supply ALL of which come back to external sources far too often. (the IMF bastardry re deals n payments ie greece lately as a 1st world example,all the gdp goes to repay debt cant clear the principal and endebted forever..see sth american nations for long term examples of that too.
    thousands die because some banker/corp stooge wants to up max profits for himself n shareholders…they couldnt care less about the poor buggers.

  3. I want to say “It’s a good thing I’m allergic to wheat,” but a wheat shortage means people have to make do without it, so they’ll eat more of other things, which causes a shortage on other commodities, resulting in a domino effect.

    Not good.

  4. As a farmer in southern Ontario, I find the price increase to be good news. Wheat prices have been depressed.

  5. I just went to a commodities web site that tracts commodities daily /monthly /yearly prices. At this point there does not appear to be a steep price climb. The prices for hard red wheat have been hovering around $215 a metric ton. it currently is $211 a metric ton. This is way lower than the $300 a metric ton from last year.
    This a great site for tracking these things.

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