Wheat prices reach record

It's not just corn that's skyrocketing in price.  So is the stuff that's the staff of life:

Wheat prices have hit record highs on global commodity markets, bringing the threat of rising bread prices.

Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall.

Surging prices are also expected to have widespread fallout for consumers.

While it will mean higher bread prices, it could also trigger an increase in meat and dairy prices as farmers battle to pass on rising feed costs.

Which, of course, we've already seen with corn, which is also used for feed.  Alas, this BBC story is clueless to a key part of the problem — U.S. farmers giving up wheat (and soybean) acreage in order to plant corn for good ol' deathanol.

Our own Maniac Trader Kevin Kerr is always on the lookout for ways to achieve big gains from scarce grains.  Learn about the "secret logic" he applies to his commodity trades here.