Optimism for Pacific Northwest Wheat Conditions

Optimism for Pacific Northwest Wheat Conditions

Optimism for Pacific Northwest Wheat Conditions

I’m KayDee Gilkey with the Northwest Farm and Ranch Report.

According to Northwest Farm Credit Services quarterly wheat Market Snapshot, 2012 should be a good one for wheat growers across the Pacific Northwest.

Northwest Farm Credit Services VP-Market Research and Development Michael Stolp shares an overview for wheat.

Stolp: “In wheat markets it has really been a tale of different regions. If we look at Montana we see particularly in the southern and eastern part of the state, significant stress on the wheat crop due to drought-like conditions and extreme heat. But in Washington, Oregon and Idaho particularly northern Idaho, a very cool spring and timely rains have bolstered crop conditions finding most producers optimistic in those areas around yields.”

The National Agricultural Statistics Service reports that in Oregon 74 percent the winter wheat crop condition is rated good or above as excellent. Washington’s dryland winter wheat crop condition is reported to be 81 percent good or above and dryland spring wheat rated 68 percent good or above. In Idaho the winter wheat crop condition is rated 84 percent good or above and spring wheat rated 58 percent good or above.

Stolp: “As we look at the markets, markets have strengthened recently and we can see that strength coming from spillover around corn price strength as well as drought conditions around the world.”

Northwest FCS’ Wheat Market Snapshot reports that crop conditions and wheat prices support wheat producers’ demand for equipment. Used equipment inventories are low and prices are strong in select areas.

I’m KayDee Gilkey with the Northwest Farm and Ranch Report on the Northwest Ag Information Network.
 

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