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Wednesday, August 10, 2016

Wheat Prices Below Breakeven Point

The good news for wheat farmers is that 2016 is a bumper crop with winter wheat harvesters reporting 60, 70, even 80 bushels an acre yields.

The bad news is that wheat growers across the country and around the world are reporting similar record harvests. Estimated amounts are equal to a four-year total of all the wheat harvested in the United States, dropping the demand — and price — of wheat to below the breakeven point for farmers, agricultural experts say.

Russia, Ukraine, Canada, Australia, Argentina and Serbia — nearly all the major wheat-growing regions on the planet — are reporting surplus production. According to the USDA-National Agricultural Statistics Service, global wheat production is expected to exceed 738 million tons this year, a mountain of newly harvested wheat to be added to the Himalayas of ending stocks already on hand.



Anonymous said...

Joe look this up,
Bernie sanders was $70,000 in debt when running for president AFTER backing HILLARY he just bought a $600,000 home in the Hamptons ?????Payoff

Anonymous said...

So we hear all this drama from the left that the world is going hungry and we absolutely MUST use genetically modified crops in order to be able to feed the starving masses.
And yet we (and the rest of the world) find ourselves knee-deep in grain with the bottom falling out of the prices because there is so much of it.
And we have milk producers who must be subsidized by the federal government.. because there is so much milk coming out of these cows that are pumped full of growth hormones that the... bottom is falling out of the milk prices, so we (taxpayers) must pump up their prices.

If the FREE MARKET is allowed to operate, the prices will move toward equilibrium.

But we can't have that, can we?

Anonymous said...

Whatever happened to the Global food shortage predicted in the 80's?

Anonymous said...

Speaking of Global Food Shortage, I say they want to screw us on oil prices by manipulation then we should use our food in the same manner then our Farmers would not need government subsidies. They would not have to sell to Foreigners and keep Americans in control of our home grown products. This is another way of Politians to control Farmers and our economy. No other Country / foreign company should not own our farm land.

Anonymous said...

GMO products are dangerous and should be protested against.

Steve said...

Yet bread is still $3 a half a loaf and baked 1/2" wider than the toaster will handle.

Really cool, right?