Line a baking sheet with wax paper. Use your hands to crush the shredded wheat into threadlike pieces over a medium bowl. Place the chocolate in a heatproof bowl set over a pan filled with a few inches of barely bubbling water (medium heat). Make sure the bottom of the bowl does not touch the water. Melt the chocolate, stirring frequently, for 1 minute. Turn off the stove. Add the chopped cherries, stir until well coated. Add the crushed shredded wheat and still until well coated. Use a large spoon to transferred about 16 to 20 tablespoon-size haystack cookies onto the wax paper. Refrigerate for about 20 minutes, or until set. Store in the refrigerator.