Stop the presses: There's a waffle shortage!

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Leggo my Eggo. No, seriously! There's a shortage on the familiar brand of frozen waffles, spurred by problems at Kellogg (K) bakeries in Atlanta and Rossville, Tennessee. The former plant saw flooding last month and had to halt production, while the Tennessee location needs extensive repairs, which has shut down several lines for the time being.

There will be a shortage of the baked good through 2010, according to reports from the cereal giant. Other Eggo-branded products, such as syrup, pancakes, and other breakfast items, will be impacted as well.

Go stock up now, because the remaining inventory of Eggos will be rationed, the company says, "based on historical percentage of business." So far, reports of in-store shortages have come from a Kroger (KR) in Jackson Mississippi and a King Soopers location in Denver.

Hope you weren't planning an Eggo-based stuffing for your Thanksgiving meal.

Beth works for The Options News Network (www.ONN.tv), which provides daily stock and options commentary. The above comments are not intended as trading advice.

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Last updated: February 10, 2010: 10:15 AM

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