Australia's Millennium Drought and the Wheat Price Explosion
Wheat is boring. It just sits there in a field, grows, gets harvested, becomes bread. Nobody thinks about wheat until the price of bread doubles and suddenly everyone is an agricultural expert. Chapter 27 of Torsten Dennin’s “From Tulips to Bitcoins” tells what happened when Australia, one of the biggest wheat exporters on the planet, stopped producing wheat. Not by choice. Because the rain stopped coming.