I am by no means qualified to answer the question. However I have heard it said in times past, that when a business establishes price for their product, consideration is given to " what the market will bare". Pricing is not always related to cost of production, and in many cases cost of production has little impact on what a "market will bare". As farmers we have been on the receiving end of that marketing reality for decades i.e. chemical, fertilizer (all inputs for that matter) costs to us. What we are experiencing for the first time (in my life any way) is a realization of what the "market will bare" with regards to what we produce. If we learn anything from this little episode, it is that just maybe we have been underselling our products for a long time and that the true value of our product based on "what the market will bare " is beyond even what we have imagined.

Is Wheat deserving of this move?

Have past wheat prices been under what was deserving?

Depending on what inflation calculator you use. the five dollar wheat of the 1970's equates to twenty dollar plus today?