Wheat prices are going to raise.
Expect wheat prices to raise in the near future, folks. It may no longer be the cheapest alternative soon.
Russia has banned all exports of wheat (although they mostly export to Europe and the Mediterranean). Canada's wheat crops are estimated to have dropped by 6 million metric tonnes. Australia's wheat crops desperately need rain in order to produce. So far, the US's crops are good, but we may become export leaders because other countries cannot keep up with their demands.
No word yet on when we can expect to see prices go up, but since flour is often on sale (at least here, it is, especially in Spanish markets) and it lasts for a year or so if stored properly, any time you can pick up extra that you'll actually use is a good time.
There are plenty of sources out there if you hit Google News. I've been tracking the stories for a week or so. Amongst them:
Russia
Canada
Australia
Figured you guys should get the heads up in advance.
Russia has banned all exports of wheat (although they mostly export to Europe and the Mediterranean). Canada's wheat crops are estimated to have dropped by 6 million metric tonnes. Australia's wheat crops desperately need rain in order to produce. So far, the US's crops are good, but we may become export leaders because other countries cannot keep up with their demands.
No word yet on when we can expect to see prices go up, but since flour is often on sale (at least here, it is, especially in Spanish markets) and it lasts for a year or so if stored properly, any time you can pick up extra that you'll actually use is a good time.
There are plenty of sources out there if you hit Google News. I've been tracking the stories for a week or so. Amongst them:
Russia
Canada
Australia
Figured you guys should get the heads up in advance.