Rainy Day has issued an emergency price increase on hard red wheat, effective immediately for all new orders. I have already updated my website to reflect this.
There will also be a new price list on all of the remaining Rainy Day items sometime next week. This is about 1100 items, some prices are expected to change, some prices won’t, but I do not know yet what they are.
I don’t know how bad that one will be, but today’s prices went up substantially, a few dollars per bag of wheat for example.
We definitely saw this one coming, the food doom news just keeps getting worse and worse I’m afraid and wholesalers are now having to compete on a global market that has skyrocketed with food demand.
By Gregory Meyer in New York, Jack Farchy in London and Javier Blas in Geneva
Published: November 9 2010 17:00 | Last updated: November 9 2010 23:52
The spectre of inflation loomed over agricultural markets after the US slashed key crop forecasts and warned of shortfalls in grains.
The agriculture department on Tuesday cut estimates of US corn yields for a third successive month, forecast record soyabean exports to China and warned of the slimmest cotton stocks since 1925.
“The combined production shortfalls and dramatic potential stock drawdowns mean a much tighter supply picture than just a few months ago,” the agency said in a separate grains report.