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In early 1816, a quarter (28 pounds) of wheat cost 52 shillings, rising through 76 shillings in May to 103 shillings in December.
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A new contract with cheese suppliers and the ability to more quickly pass on high wheat costs to franchisees might help earnings improve later this year, he says.
Wholesale prices rose at the fastest pace in a quarter-century, led by higher oil and wheat costs that are causing inflation.
He said that the company might look more attractive without that low-margin business, which has been pressured by higher wheat costs and discounts on supermarket store shelves.
Even with unpredictable wheat costs profits can be made by pasta manufacturers, and its cheapness, convenience and long shelf-life commend it to manufacturers at least as much as consumers.
While Panera Bread was trading nearly 7% higher Wednesday morning, the company warned that profits could be hurt in 2008 by rising wheat costs and a consumer slowdown.
Breakfast, which included fresh fruit and homemade whole wheat rolls, cost $6.50.
But Ms. Monarch found a brand of light soy sauce at her local grocery with no wheat that cost much less than one specifically marked as gluten-free.
During this period, the microbrewed beers produced on the premises, such as the slightly spicy organic wheat beer, cost 3.50 euro rather than seven euro.
At the end of a week in which the wheat price hit a two-year high as Russia, the world's fourth largest producer, imposed an export ban for the second year running, there were fears that the domestic move to biofuels would lead to further rises in the cost of wheat.
A loaf of 100percentt whole grain wheat bread costs $3.99, but on a tight budget, that $2 cannot always be spared.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com