Wheat prices drop more than 20 cents in a week

Nov. 4, 2013 | by Alicia Kelso

Wheat prices tumbled last week on the Minneapolis Grain Exchange, after a few weeks of steady averages. Gas prices also continued to fall and are expected by many analysts to reach a 3-year low by year's end.


Cheese prices continued to rise last week on the Chicago Mercantile, averaging $1.88, up from $1.85 the week prior. Cheese averaged $1.76 a month ago.

Prices closed at $1.87 Monday, Tuesday and Wednesday, $1.89 Thursday and $1.90 on Friday.


Wheat prices fell more than 20 cents last week on the Minneapolis Grain Exchange, averaging $7.31, from $7.52 the week prior.

Prices closed at $7.36 Monday and Tuesday, $7.32 Wednesday, $7.30 Thursday and $7.25 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.25, down from $3.28 last week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.35.

Last year at this time, consumers were paying $3.47 at the pump.

Today's mid-range unleaded is $3.43, down from $3.46 last week. Premium gas is $3.60, from $3.64 last week.

Diesel fuel prices are averaging $3.84, from $3.85 last week. The price of diesel fuel was $3.88 a month ago and $4.03 last year.

Natural gas

Natural gas prices decreased across most of the country over the report week (Oct. 23-Oct. 30). The Henry Hub spot price closed Oct. 30 at $3.55/MMBtu, down about a dime from $3.66/MMBtu at the beginning of the report week.

At the New York Mercantile Exchange (Nymex), the November contract expired and settled at $3.496/MMBtu on Oct. 29, down 12 cents per MMBtu from the week prior, and the December contract moved into prompt position. The December contract settled at $3.620 Oct. 30, down 11 cents per MMBtu for the report period.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed last week at $67.62, up from $66 the week prior when its Q3 earnings report missed expectations. The company's 52-week low was in early February at $59.68. The company hit a new 52-week high of $75.13 in August.

Domino's finished last week at $67.06, down slightly from $67.39 the week prior. DPZ hit a 52-week high in early October, at $69.92. Its 52-week low was $38.98 a year ago.

Papa John's finished Friday at $75.67, up 3 cents from the week prior. The company hit a new 52-week high earlier in the week at $77.69. The company hit its 52-week low of $46.42 a year ago.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $46.35, a slight drop from $46.57 the week prior. The company hit a fresh 52-week high in October at $47.78. Its low was a year ago at $28.95.

Pizza Inn closed out last week at $8.19, a drop from $8.69 the week prior. The company's 52-week high was $9.18 in May. It traded as low as $2.53 a year ago.

Read more about supply chain news.

Photo provided by Wikipedia.

Topics: Cheese , Chuck E. Cheese's Pizza , Domino's Pizza , Equipment & Supplies , Operations Management , Papa John's , Pizza Hut , Pizza Inn

Alicia Kelso / Alicia has been a professional journalist for 15 years. Her work with FastCasual.com, QSRweb.com and PizzaMarketplace.com has been featured in publications around the world, including NPR, Good Morning America, Voice of Russia radio, Consumerist.com and Franchise Asia magazine.
View Alicia Kelso's profile on LinkedIn

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