Thursday, June 14, 2007
If you go to your favorite restaurant in the near future and see a sign at the salad bar saying "Crackers - 10 cents each", you can blame me for that.
I sold 1000 bushels of soft red winter wheat today for delivery in July to Trenton, MO MFA elevator for $5.18/bu. That is like...a lot. Last year I sold for $3.87/bu, and that was a lot more than earlier (around $3.20/bu or so).
Since SRWW is used to make crackers and such,the higher costs of wheat will surely cause the price of condiments at the salad bar go up as well....
...At least if one follows the logic presented by food processors. The minimum wage increase, fuel costs, inflation, interest rates...these do not make the price of food go up, according to them.
It's those darn greedy farmers who dare take the price given to them by the market! We need subsidies to keep food prices low...oh wait, we already have that. Well, we need price controls!...uh, had that, didn't work.
I guess we'll have to deal with it together, folks.