Wheat in a COVID Market Pt 1

Wheat in a COVID Market Pt 1

Bob Larson
Bob Larson
I’m Bob Larson. With our pandemic reality in place, Washington wheat harvest is getting underway in some areas as growers keep a keen eye on the grain and the markets.

Washington Association of Wheat Growers Executive Director, Michelle Hennings says some have already begun cutting …

HENNINGS … “We’re starting to turn here. I’m in Adams County and it seems to me that we’re pretty much on course, but if we do receive some cooler weather again, it might delay us a little bit. But, we’re hoping that it will warm up, turn so we can get our harvest off the ground.”

With regards to the wheat market, Hennings says …

HENNINGS … “We’re always concerned about the markets. Obviously, we took a hit in March when COVID hit by 8.5%. It went from $6.33 to $5.79. It fluctuated.”

And that, Hennings says is reflected in the prices …

HENNINGS … “Usually, the wheat price at harvest time seems to always go down and when I looked today, we’re at $5.13. This is very concerning because our break-even is $6.50 to $7.00.”

So, Hennings says it’s just a wait and see …

HENNINGS … “We’re hoping to see the wheat price come back up, but with the volatility of the markets right now.

And, of course, we’re concerned that COVID, it’s very uncertain what’s going to happen.”

Tune in tomorrow for more on the wheat harvest and other challenges brought on by the coronavirus.

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