...$10 wheat not high enough for you?

Try $10.93 a bushel on the Chicago Board of Trade and over $15 at Minneapolis... with global supplies at 60 year lows.

Bloomberg is reporting, "Higher prices usually encourage farmers to plant more acres. That may not occur this year because the prices of other crops also have risen, which may make them more profitable than spring wheat, said Jason Britt, an account executive at Central States Commodities Inc. in Kansas City, Missouri.

``The best fertilizer for any crop is higher prices, however, this year is a little different in that competing crops of corn and soybeans are also at historic highs,'' Britt said. ``Most of the time it is easy for a crop to buy the acres. This year, all crops are competing for acres with the higher prices.''

With grain prices being stimulated like this by ridiculous "bio-fuel" demand, you can kiss more than Argentine beef goodbye... tomato and potato farmers, as well as growers of some of your other favorite veggies are going to switch to this bonanza.

The government at Buenos Aires has halted wheat exports to keep the local supply high and prices down... but that won't last forever.