Spuds and Sugar Beats

Spuds and Sugar Beats

David Sparks Ph.D.
David Sparks Ph.D.
Every so often, we are fortunate enough to get what is called a Market Snapshot from Northwest Farm Credit Services. They have a team of people will examine all factors that can affect the outcome of a crop be it weather, financial conditions, competing international and national markets, you name it. Today were going to hear about what went on in the Northwest as it relates to potato and sugarbeet production. Here’s Matt Kloes from North West Farm Credit Services. “After a near ideal growing season, Northwest potato producers’ fortunes are challenged by weather and prevailing markets. An atypically cool and wet August in Idaho limited potato sizing and increased disease concerns. Above average temperatures in Washington constrained potato growth and continue to challenge harvest. Open potato prices are currently below breakeven. Although yield shortfalls may increase processors’ demand for open market potatoes, notable potato price increases are most likely once harvest is completed.

 

Financial returns for Northwest sugar beet growers will be limited by world sugar supplies in 2014. Lower U.S. and global sugar production in 2014-15 aren’t enough to offset high global inventories. In Montana, sugar beet growers project a near-record crop, but cite recent frosts and concern with sugar levels. Initial harvest reports in Idaho reveal average to slightly below average yields, with sugar levels above historic averages. Producers are expected to break even where sugar beet sugar levels meet factory requirements.

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