This is the real problem with the soaring wheat and other grain prices. This article is from last fall. It was $8 back then. It's $11 today.
Wheat prices are surging from the U.S. to Russia, hitting a record in Europe and raising bread costs all over the world. And there may not be much relief soon.
www.seattletimes.com
"Protectionist measures: Russia — last season’s top shipper — started taxing exports this year to safeguard supplies and keep domestic costs in check, and signaled an overseas sales quota is likely. That’s helped to slow shipments and support prices elsewhere, while giving rival suppliers the chance to grab more market share.
— Import needs: Although top wheat buyer Egypt temporarily balked at high prices last month, appetite from importers remains strong, with Saudi Arabia booking more than double the expected amount in its latest tender. Countries typically stockpile several months of supply, but governments can’t risk running out before the next major harvests."