Author Topic: Why is wheat so high priced?  (Read 3405 times)

Offline keepitlow

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Why is wheat so high priced?
« on: March 02, 2010, 09:26:46 AM »

Wheat skyrocketed to $12 to $24 per bushel depending on the variety a few years ago. But wheat prices have since come back down to earth on the spot market.

http://www.chartsrus.com/chart2.php?image=http://www.sharelynx.com/chartstemp/free/cots/cots4cncnrw.php

http://www.silverbearcafe.com/private/2.08/wheat.html

As of today, one 60 pound bushel of wheat cost $5.25, so the cost per pound is about 8.75 cents. OK, this is the price per bushel for large contracts on the commodity exchange. But even then, should a 50 pound sack of wheat jump from a pro rata $4.38 for 50 pounds up to $32 to $55 for 50 pounds as many bulk sellers retail the wheat for? That is a HUGE, HUGE markup. Bottom line...wheat jumps from .0875 cents per pound up to .64 cents to $1.10 per pound.

http://www.quotewheat.com/

http://www.unc.edu/~rowlett/units/scales/bushels.html

I can buy decent stone ground whole wheat for less than it cost to buy grain and grind it myself. But we have to remember this was how it was with many poor countries that the World Bank has taken under its thumb.

Haiti for example. They used to be totally self sufficient rice producers then the US imports subsidized rice and their farms can't compete so go bust. They lose all rice production abilities and now are dependent on the US for its rice. Almost same scenario with Jamaica and their milk production.

http://www1.american.edu/TED/haitirice.htm

http://www.lifeanddebt.org/

Anyway, what is your take on all this? Is all this markup due to the trendy survivalists craze for wheat? Or are wheat dealers just trying to get in on the Wall Street / Big Bankers greed wagon?

Thanks


(PS...a good topic for TSP too!)
« Last Edit: March 02, 2010, 09:28:56 AM by keepitlow »

Offline OLD DUDE

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Re: Why is wheat so high priced?
« Reply #1 on: March 02, 2010, 06:40:04 PM »
Only one word comes to mind--->  Monsanto

Offline LvsChant

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Re: Why is wheat so high priced?
« Reply #2 on: March 03, 2010, 08:03:30 AM »
There was a news post on wheat last year about wheat rust here:

http://thesurvivalpodcast.com/forum/index.php?topic=6279.0

So many factors (as well as retailer markups) could be involved. That being said, I still find wheat berries to be a great way to stock up on a good long term food. I have bought wheat from an LDS warehouse most recently. They sell their wheat for less the $6 per 25 lbs.


Offline keepitlow

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Re: Why is wheat so high priced?
« Reply #3 on: March 05, 2010, 04:46:02 PM »
There was a news post on wheat last year about wheat rust here:

http://thesurvivalpodcast.com/forum/index.php?topic=6279.0

So many factors (as well as retailer markups) could be involved. That being said, I still find wheat berries to be a great way to stock up on a good long term food. I have bought wheat from an LDS warehouse most recently. They sell their wheat for less the $6 per 25 lbs.




Very cheap. 3 to 5 times that price in Mid Atlantic.

Offline Pathfinder

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Re: Why is wheat so high priced?
« Reply #4 on: March 05, 2010, 05:07:36 PM »
I paid $7 per bushel at a local wheat elevator not too many months ago. Uncleaned, still has chaff and soybeans (previously stored in the elevator) in it, but who cares? I also paid $15 for a bushel of certified non-GMO wheat last fall.

don-tomas

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Re: Why is wheat so high priced?
« Reply #5 on: April 04, 2010, 07:52:37 PM »
This guy will hook you up with full pallets of wheat, corn, beans at great prices [Guthriegrain.com] I am trying to get him to do 55 gal barrels?? any one know of a source?

Offline CivilDefense

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Re: Why is wheat so high priced?
« Reply #6 on: May 05, 2010, 08:27:06 AM »
Probably because it is being sold overseas and there is a demand.

http://business.maktoob.com/20090000462258/UAE_eyes_three_month_food_stockpile/Article.htm