Wheat Prices Surging

 Wheat growers, there’s some very good news for you but the reason there’s good news is not necessarily good for the rest of us. I’m David Sparks and I’ll clarify in a moment. Wheat prices went up pretty dramatically last week and one of the reasons given was that global demand was growing. That’s great news for Idaho wheat growers knowing that over the course of the last three months, wheat has been badly hurt, trading down almost 90 cents per bushel because of reports that there was a perhaps over abundant global supply along with moderate weather.

 Now the bad news. According to Steve Mercer, Director of Communications, U.S. Wheat Association the dollar has something to do with booming wheat prices: “The most immediate situation really has to do with the value of the dollar. Our wheat is becoming more attractive as the dollar declines in value. The reason that’s important right now is there is so much wheat in the world in the last two years the world has produced the #1 and #2 crop ever so there’s a lot of exportable supply and the world has tried to take advantage of that.