N.D. farmers eyeing wheat prices; hesitant to after high inputs
BISMARCK, N.D. (KFYR) - North Dakota experienced record spring wheat and durum yields in 2022, but now producers are facing a peculiar issue.
Agriculture Commissioner Doug Goehring says the price of wheat is unusually low, considering the market factors. And that’s a problem for producers who paid high prices for inputs last spring. He says if prices don’t increase, some farmers in North Dakota might choose to grow a different crop.
“It’s impacting decisions being made by farmers right now, as to whether they’re even going to plant wheat this spring. Because some of them are telling me, even with the good wheat crop they had, when you’re looking at seven-dollar wheat, cash price, they say, ‘I can’t make it on that. Not with what I’m paying for expenses,’” said Goehring.
Last year, Russia’s invasion of Ukraine sent wheat prices soaring. Since war has crippled the country’s planting capabilities, higher prices would be expected, but wheat futures are way down from their highs in March of last year.
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