August 24, 2007 - 7:36am
Grain prices to rise due to poor harvests
Bakers and home millers might want to stock up on grain now, as weather problems have significantly reduced the projected wheat harvest. Eventually this will be reflected in consumer prices. Grain keeps well and does not require special storage conditions beyond a cool, dry place. IMHO, any non-white flour should be refrigerated or frozen to preserve flavor.
See this article from BBC News, Wheat prices reach record level which says, in part...
Quote:
Wheat prices have hit record highs on global commodity markets, bringing the threat of rising bread prices...Surging prices are also expected to have widespread fallout for consumers...Global wheat stockpiles will slip to their lowest levels in 26 years as a result, official US figures predicted earlier this month.
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on CNN. Add to that that just about every farmer from Springfield MO to Minn. MN planted corn or beans this summer. That James Barnett was cute with his commodity report out of Chicago.
I've been hearing about the rising prices of milk. And a lot of dairy farmers are getting out of the business because costs are too high.
Rosalie