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August 12th, 2010
08:52 AM ET

Q&A: It's All About Wheat

We're marking the start of a brand new segment broadcast simultaneously on CNN Newsroom with Ali Velshi and around the world on Quest Means Business where you will have an opportunity to choose the topics that you want discussed.

Richard Quest will be teaming up with  Ali to answer your questions on topics as diverse as technology, travel, finance, commodities and even pop culture. Our first topic will be on an issue that is integral to many of our lives – wheat. Wheat you say?! YES! Wheat!

Sixty percent of the world relies on wheat as a staple part of their diet and many more consume it daily. Since mid-June, the price of wheat has surged more than 50 percent on world commodity markets, fueled by Russia's decision to ban wheat exports after crops were devastated by drought.

The price surge shows that any variance or trouble spot in a large wheat-producing country (Russia is the world's third biggest wheat exporter) can be felt all over the world.

What drives sharp rises in world grain prices? Why is wheat so important? How does a price rise impact our decision to buy a loaf of bread?

Here's your chance to ask us and have your question answered.

Filed under: Ali Velshi • Q&A
soundoff (22 Responses)
  1. Michael Armstrong Sr.

    Baloney that's whats driving wheat up the only thing that most Americans can afford to eat is baloney sandwiches and hot dogs what would be a good substitute for bread .

    August 12, 2010 at 9:51 am |
  2. Beau1969

    At one time we were shipping wheat to Russia,Because no one was harvesting,,,,What changed?

    August 12, 2010 at 1:16 pm |
  3. Susie Kent

    There was a brief interchange between Messrs Sanchez and Velshi that touched on Friedman's Flat World theory, in the context of jobs. They seemed to embrace the thought that the U.S. has always had a leg up on the competition because while other counries can do what the U.S. can do, the U.S. has always had a particular monopoly on creativity. If Friedman's analysis is taken to its logical conclusion, that "edge" likely will disappear - if it already has not. If the U.S. is going to boost its job stats it MUST figure out how to regain its competitive position in manufacaturing and technology. Whether one agrees or disagrees with Friedman's theories, his book is a good place to start the discussion. I'd love to see some serious programming and national discussion centered around his prescriptions for the economic future and addressing what U.S. corporations and citizens (the Government can facilitate, but it can't do) must do to boost the U.S out of this recession and on to retaining a position of competitiveness in the world economy.
    And I love to see some analysis serious address and deflate the hot air that says tax breaks for the rich will lead to job creation. If that's the case, job creation should have peaked instead of taken a dump as a result of Mr. Bush's presidencly. S. Kent in Dallas.

    August 12, 2010 at 3:49 pm |
  4. laura from willis

    I watched this earlier today. AWESOME really is a "lacking" word. It was fantastic. Richard and Ali are two of my Favorite hosts, and together, they are super. Just wanted to let ya'll know.
    I also heard Ali on his XYZ. Kudos to Ali. He is THE most professional, kind, knowledgeable Host. He appears to be a man of his convictions, a man of great integrity, and I could go on and on.
    My hat's off to you, Ali for all you do. And to you Kelly for a fantastic show!

    August 19, 2010 at 2:36 pm |
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