The cost of bread increases... now what?

CNN issued a report saying that the cost of wheat has increased by 80% and is at its highest cost over the past two years. It goes on to say though the United States produces enough wheat to sustain itself, if drought-ridden Russia cannot provide the grain for the rest of the world, as it is most accustomed, the United States will then have to begin exporting its products, causing a price increase for domestic consumers. CNN posits that if the price hike holds steady for more than 20-30 days, consumers across the world will experience an increase in the normal cost for wheat-containing products, such as bread and pastries, a staple in many Americans’ diets.
In Victorian-era England, a demand for a minimum wage was realized using the cost of wheat to determine how much is necessary to most basically live at that time. The Speenhamland System (crazy name, legendary concept) created a base of acceptable living conditions and subsequently provided relief to individuals and families whose earnings fell below the cost of wheat. Additionally, the System instituted that it was no longer up to individual townships or parishes to determine individual or family eligibility of relief, but became a nation-wide accepted implementation of a general welfare system. Sounds familiar, doesn’t it?
England’s “cost of bread” concept was adopted by the colonies upon their foundation and is still used today, though solely conceptually, using basic commodities as a means for determining purchasing power (aka, the cost of living).
If the "cost of bread goes up," will the minimum wage increase? Will general welfare and SNAP benefits increase? How will this price increase affect those who struggle to make ends meet with limited income?

Check out the article on CNN here for more information. And the Speenhamland System here.