Wheat Rally

Last month we did a number of reports on the fact that there seemed to be a glut of wheat on the world market and that had wheat farmers scratching their head as to what to do. Yesterday, we talked with Idaho Farm Bureau reporter Jake Putnam who said that a variety of conditions, including drought in the Midwest has led to wheat prices inching up. But there was talk, and I asked Jake about this, that some wheat farmers were thinking of alternative crops. Idaho Farm Bureau reporter, Jake Putnam knows a few Idaho wheat farmers who were thinking out loud. "Well that's what they were thinking in March and April. We did see a lot of growers switch things around because the market did look so dire back then, but now it's starting to look a little bit better and a lot of people gambled on canola and other crops like that and I think it's all going to work out.

Because of frost, drought, and the USDA acreage report, spring wheat is classified at 40-percent good to excellent, well below the 72-percent at this time last year. But with heat and sunshine, Idaho wheat is expected to rally.