[Mr. Lucky]

The price of wheat is well off its prior highs. In fact, most contracts are now at their low.

[Petronski]

So the article is wrong to say this:

As the demand for corn has increased because of increased ethanol consumption, the Washington Post reported this week, the number of acres used to grow wheat in the U.S. has contracted, contributing to a shortage of wheat on the world market and an overall increase in world grain prices.

[org.whodat]

The price of wheat is well off its prior highs. In fact, most contracts are now at their low.

Future market in wheat/grain has more to do with expectation of current growth and weather conditions. For crop currently in the ground. Plus, India has said they have a huge crop.