Combine flour, baking powder, soda, and salt; stir well. Add cereal, cheese, and caraway seeds, stirring well. Cut in shortening. Sprinkle buttermilk evenly over flour mixture, stirring until dry ingredients are moistened.
Turn dough out onto a lightly floured surface; knead 4 to 6 times.
Roll dough to 1/2-inch thickness; cut with a 1 3/4-inch biscuit cutter. Place biscuits on ungreased baking sheets. Bake at 450° for 10 minutes or until lightly browned.