No Flour in 10 Weeks - Wheat "crisis"

[many houseapes]

There is an article from WorldNet Daily on the business page that I read this morning. I can't seem to post the link here.
Anyway, the article said that the world will run out of wheat in 10 weeks time. Not trying to cause a panic here, but just wondered if anyone else has heard this & what do ya'll make of it?

[my4littlebuffaloes]

I haven't heard that we will run out, but that prices will rise significantly. I bought a 25 lb bag today and it cost $7.99 - double what it cost me 15 months ago. I didn't need it, but I wanted to get it before the price went up. Now I am glad I got it before the world ran out. I think that might be an exageration of sorts. The wheat crops are just now getting ready to be harvested and will be through the summer, so I think we will be OK, but still have to pay a lot for it.

[Jskell911]

Food shortages loom as wheat crop shrinks and prices rise
Jonathan Leake

THE world is only ten weeks away from running out of wheat supplies after stocks fell to their lowest levels for 50 years.

The crisis has pushed prices to an all-time high and could lead to further hikes in the price of bread, beer, biscuits and other basic foods.

It could also exacerbate serious food shortages in developing countries especially in Africa.

The crisis comes after two successive years of disastrous wheat harvests, which saw production fall from 624m to 600m tonnes, according to the United Nations’ Food and Agriculture Organisation (FAO).

Experts blame climate change as heatwaves caused a slump in harvests last year in eastern Europe, Canada, Morocco and Australia, all big wheat producers.

Booming populations and a switch to a meat-rich diet in the developing world also mean that about 110m tons of the world’s annual wheat crop is being diverted to feed livestock.

Short term pressures have compounded the problem. Speculative buying by investors gambling on further price rises has further pushed up prices.

Though shortages are often blamed on the use of land for biofuel crops, the main biofuel cereal crop is maize, not wheat. Farmers have brought millions of acres of fallow land into production and the FAO predicts that the shortages could be eliminated within 12 months.



This is the entire article. Hope it's ok to post it. Not too sure what to make of it, but it seems that it seems a temporary shortage may be coming, but they have already taken measures to right it. Maybe we might want to buy a bit extra for the coming months though

[qtkitty]

I wonder how they came by those numbers. I mean of course we would run out of wheat if all countries and people ate wheat at the same rate. Some people do not eat wheat.

[YankeeMom]

I think it's more like the world will run out of wheat in 10 weeks because that is the supply that is in reserve. Wheat will only run out if production stops immediately and there's no more put into reserves.

I'm not a fan of the chicken little media hype.

[suki]

You do realize that the World Net Daily is not a reputable news source and is in fact a propaganda machine financed by Richard Mellon Scaithe, don't you?

I'd question anything they "report".

While there is a world-wide wheat shortage, it's not nearly of this magnitude. Typically, world demand is 20 billion bushels of wheat... we currently have about 18 billion bushels and are 2 billion bushels short of world wide demand for the supply. The winter wheat harvest is not in yet.

The truth is out there... you just have to dig around to find it.

[HandyMom]

I wonder how/if that would affect my buying habits. The only things I buy with wheat would be cereals and the breads or pitas at the day old bread store (usually get a loaf or a pkg of pitas for 39c).

[suki]

Regarding prices... I was looking at commodities futures pricing the other day and expect everything to cost more. The price of soybeans has doubled in the past year, same with wheat. Corn has doubled in the past two years. Canola has risen to almost double in the past 2 years. Cotton, sugar and other soft goods are increasing as well.

Everything will cost more. Tighten your belts and hang on!

[Dixie]

You do realize that the World Net Daily is not a reputable news source and is in fact a propaganda machine financed by Richard Mellon Scaithe, don't you?

That's your opinion. I think almost all the news is slanted, these days, whether it's left or right. JMHO

[suki]

I don't disagree about bias. However, the founding, financing and agenda of World Net Daily are a matter of fact, not opinion.

[HandyMom]

Regarding prices...
Everything will cost more. Tighten your belts and hang on!

I plan on eating less "junk" food and trying to move towards more fresh and organic fruits and vegetables, less meat and processed foods. Plus, I really need to cut down on my portion sizes, too. I'll be forced to be more selective when spending my food dollars and if junk and processed food cost more then I will be forced to make more nutritious choices I hope.

I'm trying to find a silver lining in all this bad news.

[known2him5]

I wonder how/if that would affect my buying habits. The only things I buy with wheat would be cereals and the breads or pitas at the day old bread store (usually get a loaf or a pkg of pitas for 39c).

You'd be amazed at what products contain wheat, or use wheat in their processing. Twizzler's candy uses wheat flour in the processing to keep the candy from sticking to the tubes as it's made.

[M55FF]

well, there is always rice cereal, which I kinda like better anyway...

Don't know about all the hype... it may just be a way for greedy corp pockets to be lined and a way to justify a BIG cost increase.

Let them have their overpriced wheat....... I'll find something else and maybe even like it better.

[Lady_V]

I just read the article to the Old Man... he shook his head and said 'just when I started to like baking'. I make our bread and bread products from scratch. I have a bag of bread and a bag of all-purpose, and thats it. When it's gone, it's gone.

I had always assumed that 'homemade' would be the more affordable option, but what happens when even 'the most affordable option' is outside your financial zone???

[guest002]

There is no alternative for us. Wheat is the only grain that my ds can eat. He is allergic to rice & corn. I just bought 15 lbs. of flour yesterday.

I don't think the shelves will be empty, but I do think every commodity will keep increasing in price.