Wheat tops $10 per bushel -- could cereal become too expensive?

The author clearly does NOT understand how the cost of wheat will impact the price of cereal. He fails to realize how many boxes of cereal can be made from just 1 bushel of wheat.

Think of a bushel of wheat as about the same as what would fit into a 5 gallon bucket. Now grab your box of cereal, take the inner bag out of the box, and place it inside a 5 gallon bucket. That bag may not even cover the bottom of the bucket. This demonstrates what a small portion of the cost of cereal really comes from the cost of wheat.

The price of cereal and most other foods is a result of manufacturing, distribution, and retailing, and the associated profit each of those makes during the process. Very little change in retail price would result from the increased price of wheat.

If the author wants to 'play the stock market' on cereal, he could simply buy extra boxes now and put them in storage for use later in 2008 or 2009. Most cereal on the retail shelf today will have a 2008 or 2009 expiration date. Then he can 'earn money' when he uses the lower cost cereal while most others are paying the higher retail price.

Maybe he can use the earnings to take a class and learn more about how food prices really work!

Fruit, fruit juices, yogurt, eggs, bacon, who needs cereal for breakfast. Stop eating wheat, corn and oat cereals for a couple of months and demand goes down along with prices. American people are adaptable and should start using that gift a little more.

WHO CARES? PRETTY SOON EVERYONE WILL BE EATIN SOUTHERN FOOD FOR BREAKFAST. INVEST YOUR MONEY IN "GRITS" EEEE HAAAAA

Why are they getting wheat from Argentina? Buy American and keep USA working!

Ethanol is already a failure. Brazil may have cleaner gas, but the government of Mexico enacted a law effected Jan 1, 2007 capping the price manufactures may charge for tortillas. The number one staple food of the diet of Mexico and most Central and South American diets is in such short supply because corn for fuel pays better than corn for food.

We need to buy our wheat from AMERICAN farmers, thank you! Why do we need to import from Argentina? Why can't we support our own farmers? I would rather pay more if I knew it was keeping our own farmers from going bankrupt. Good grief. I know we have to import/export, but gee whiz, we need to support our own people. I personally shop at local farmer's markets and fruit stands at the side of the road, so that I can get the produce FARM FRESH. Sure, I pay a little more, but I know they need the money and I' rather give it to them and know where it came from. I could go on & on (but I won't!). Let's support our LOCAL FARMERS!!!!

What is the problem? We could just go back to growing our own crops and stop buying them from other countries. Keep our US dollars at home.

For cryin out loud! Why do we need to be getting our grains from some other country when we have tons of our own? This is totally stupid!

I dont care- I cant afford the milk to put on
cereal anyway..................

they sell cereal at Aldi's and at the dollarstore!

A large factor in grain prices goes back to our dependence of foreign oil. We have decided that instead of drilling for oil in certain parts of the country we would build ethanol plants. Ethanol plants are being supplied by corn. Therefore the price of corn has gone up and more and more farmers plant it instead of wheat. Chickens eat corn therefore eggs go up. Get the picture.

Great, now the president is responsible for crappy wheat harvests in Argentina. Only an idiot could ever make that equasion. Mom maybe there's some place you could fly off to???

Us indians here in OHIO live on DEER MEAT and Goose and Duck EGGS. Who cares about the price of GRAINS. Too bad you poor city slickers, maybe the GOV. will feed you. Kmosabe

Corporate America is the problem. If everyone would stop blaming each other and actually look at what is happening then maybe, just maybe, people would be smart consumers. Instead of worrying about buying name brand products, one should actully look for the non brand products and compare. Generic foods taste the same and they are cheaper. Sometimes we can't help that the free market has a hold on the prices, however there is always the so called lobby, people who fight the government for these so called hikes in prices of wheat and oil. The problem is people don't care enough and will buy the name brand products because they want to. People won't change their ideals. Too much greediness on everyones part, not just the government, but the public.

You all can thank bush for this and his putting the
squeeze on the middle and lower classes while he
and his 0il Slick buddies in the middle east spin the
barrels on what the price will be this month. And
using up farmland for 'Ethanol' as a enrgy source,
is taking away more acreage from growing food
for the masses, not to mention more starving folks
Not fair sez average joe tax paying citizen !

won't by that
crazy
There are so mant homeless
no med class either rich or poor I have seen strawberries here 6.00 a pkg no one buying that they were all spoiled. what a waste
Horrible
everything is alot
having a car is like paying two rents betwen gas car payment maintaining the car and so on

I can't eat it anyway (as a celiac) nor should one in ten people in
the US that are probably also undiagosed celiacs... if they would
stop putting wheat in everything from 'Corn' Flakes to Ice cream
there would probably be enough for to keep making pasta at a fair
price... Wheat is abused in the US for it's addictive glutens that
are put into everything in most large major brands to make it more
'tasty' and ADDICTIVE. Go gluten free (GF) and help with this wheat
shortage 'crisis'..

A bushel of wheat weighs 60 lbs. and yields about 30 boxes of cereal. So at $10.00 a bushel a box of cereal has 33 cents of wheat in it. It used to be 15 cents So when they blame the price of wheat for the high prices they are blowing smoke in your Face.

it's not the president's fault, it's just the time....the end time.....Revelation 6:6 Then I heard a voice among the four living creatures, saying, "A quart of wheat for a day's wages, and three quarts of barley for a day's wages, and do not damage the oil and the wine!"