The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
The Thursday edition of the Wall Street Journal had a front page article on how the rapid increase in wheat prices is contributing to the turmoil in the Mideast. Most of the Mideast countries consume a much higher percentage of wheat in their diet than any other countries in the world. For example, Americans consume about 177 pounds of wheat on an annual basis. People in Tunisia consume over 478 pounds and Algeria is just behind it at 464 pounds.
Perhaps everyone should spend more money on food instead of weapons?
I agree, and we should stop burning up corn to make ethanol too. It is immoral to burn up food, especially when there is no environmental or economic benefit. NCGA, RFA, Growth Energy, land grant Universities (like Purdue) and Big Time Operators don't care though -- its all about the money.