« Good sense on food prices | Main | Wuthering Heights »
Wheat Prices are Down
Rice prices remain high, however, although world production is up a little bit (data on rice). Hat tip to Carpe Diem.
Posted by Alex Tabarrok on May 16, 2008 at 03:03 PM in Economics | Permalink
Comments
Yes. I noticed. My price for a bag of flour dropped from $34 to $24 in the past few weeks. But we're still off our price of about $12 from back in Sept.
Posted by: John V at May 16, 2008 5:31:34 PM
Of course, I'd pay $50 just once if Lou Dobbs would call me a jackass! :)
That's a badge of honor, Alex. Where it with pride. ;)
Posted by: John V at May 16, 2008 5:33:36 PM
$7.75 is current quoted price--graph seems a little hopeful.
Posted by: Roger Meiners at May 16, 2008 7:12:22 PM
It rained in Australia.
Posted by: Ronald Brak at May 16, 2008 11:37:46 PM
Sorry. Following the cyclone in Burma the total of world rice production is probably down a bit in 2008, not up. See the estimates over the next two months.
Posted by: David Heigham at May 17, 2008 7:47:31 AM
Guess what, the winter wheat harvest is happening.
Posted by: spencer at May 17, 2008 8:42:16 AM
Get ready for the farmers' unions to ask for yet more subsidies.
Posted by: jonm at May 17, 2008 10:47:37 AM
A more useful enquiry might include the stockpiles (referring biblically to 7 fat, 7 lean years).
It is the rate of increase in drawdown vs. the rate of increase in rebuilding them that needs publication
As they say in the financial blogs: The writer is Long JJG
Posted by: R.Richard Schweitzer at May 17, 2008 6:16:13 PM
Here's a link to a story about harvest of winter wheat down south.
http://www.thenewsstar.com/apps/pbcs.dll/article?AID=/20080519/NEWS01/805190308&referrer=FRONTPAGECAROUSEL
Areas normally fallow were used to grow wheat to take advantage of higher prices. Makes sense with more wheat coming on line, the price would fall. Note cotton plantings are lowest in history. Is there a "cotton bubble" in the offing?
Posted by: Rebunga at May 19, 2008 2:26:44 PM
