8-9 IAN Wheat Prices

 Isn’t it sad and tragic that significant negative events, such as our nation’s drought, can produce great results for people. In other words, through no fault of their own, sometimes people benefit from the misery of others. So it is with this year’s wheat crop.  I had a conversation the other day with executive director of the Idaho Wheat Commission, Blaine Jacobson, and he had a very good report on the wheat crop across most of Idaho. Northern Idaho has a booming crop, southern and eastern Idaho have been affected by the drought. So I had one other question for Blaine as it relates to national wheat sales. “The prices are up and the prices are going to stay fairly strong at least as long as until we get a better handle on the future weather picture. we started this year with pretty good stocks and that has kept wheat a little more grounded than corn and soybeans. As you look at the future and not knowing how long this drought is going to last, it continues to put upward pressure on the wheat prices so any of the growers in Idaho that have wheat to sell this year are going to have a great year. Those growers that are having a bumper year, it’s going to be a terrific year. Those growers affected by the drought, it is a shame that they don’t have more wheat to sell this year.