Local prices shot up roughly 30% to nearly $12 a bushel, about the highest Ehmke could recall in 45 years of farming near the western Kansas town of Healy.
Instead of reaping a windfall, Ehmke found a commodities market turned upside down. He and his wife Louise told Reuters they couldn't sell a nickel of their upcoming summer wheat harvest for future delivery. Futures prices for corn and wheat had rocketed so abruptly that many along the complex chain of grain handling - local farm cooperatives, grain elevators, flour millers and exporters - stopped buying for fear they couldn't resell at a profit.
And it just ain't bread prices that will be affected. Check this out:
20 Common Foods Containing Wheat
Wheat is an annual grass and is one of the top three crops grown all over the world. There are many common foods on the market which contain wheat because it is very nutritious and has many uses. But many are allergic to it because it contains gluten. Gluten is made up of the sticky proteins that act as a binder in foods. It is difficult to find foods that do not contain some form wheat, especially if they have been packaged. Here is a list of 20 common foods that contain wheat.
Yup, the price of your after-work beer is going to go up too.