Wheat prices continue to rise

[Mike Nolan]

Wheat futures prices are up around 4% again today, with the destruction of a dam in the Ukraine being the biggest news today. Continued droughts in the Great Plains states is having an impact on expected harvest yields.

Wheat prices are still well below last year's peak, but I don't expect flour prices to go down any time soon.

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[BakerAunt]

My husband thinks that at least one farmer in our area has planted wheat rather than the usual corn or soybeans.

[Mike Nolan]

I don't know about the planting and fertilizing equipment, but I know wheat harvesters are very different from corn or bean harvesters.

It used to be that many wheat growers wouldn't own their harvesters, they'd contract for a team that roams around the region harvesting wheat fields, bringing multiple harvesters with them so they could do your fields quickly. I know one wheat farmer who referred to it as the 'Million Dollar Parade' because of the cost of those harvesters.

[Mike Nolan]

The WSJ says that the wheat harvest in the great plains might be the worst in over 60 years, due to drought, with more abandonment of acres planted than in any year since 1917.

[Italiancook]

This is concerning, Mike, but thanks for letting us know.

[BakerAunt]

I saw a story today--sorry, do not recall source (probably New York Times, Washington Post, or NPR)--that floods have also devastated wheat crops in China.

[Mike Nolan]

I see several stories, one on NYT, one on Reuters, others.

Floods are drowning the wheat, high temperatures are killing off farm animals there.

[BakerAunt]

I want to know why mayonnaise is selling for $4.98 a jar. Is it a result of the earlier egg shortage?

[Mike Nolan]

I suspect it is other factors, such as vegetable oil, packaging and shipping. I've seen reports that some companies are discontinuing certain sizes of products because they can't get the right size jars.

Demands for higher wages are becoming more widespread. UPS is likely to go on strike in a month and they want a HUGE increase for their 300,000+ union drivers. And if UPS drivers get a big jump, that will spread to other trucking operations.

The government tells us inflation is getting to be under control - in a pig's eye it is!

[Mike Nolan]

Russia has reneged on a deal to allow Ukrainian wheat through the Black Sea, that will probably affect wheat prices worldwide.

[navlys]

BJ's had a 5 lb bag of 00 pizza flour for sale with a coupon. I don't make enough pizza to warrant a purchase. I still have to use up my almond flour, my lemon powder, my cheese powder, my dough improver, my expresso powder, my cocoa powder, my milk powder.....and my husband gave me another $100 gift card!!!!!!

[chocomouse]

I bought 50 pounds of Sir Galahad today for $49.95 at the KABC store. That's the same price as in March 2023 and September 2022. It was $39.95 in March 2022. Those are the wholesale prices, but wholesale is not restricted to commercial accounts - anyone can purchase the 50 pound bags, you generally just need to ask for them as they may not be displayed in the retail store. So far, KABC has not raised their prices, but I suspect it will happen soon.

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