Montana wheat farmers report big yield, low prices
Tue., Aug. 9, 2016
HELENA, Mont. – Though Montana’s wheat farmers are reporting a large harvest this year, the producers aren’t reaping many profits, due to low prices.
Winter wheat values dropped as low as $2.16 a bushel this year, meaning many Montana farmers will lose money on grain.
According to figures from the Chicago Board of Trade, for the past two years U.S. wheat prices have been below $5 a bushel and slipped to below $4 a bushel this year, a far cry from the almost $9 a bushel earned between 2011 and 2014.
The drop in price comes as wheat production continues to outpace demands. The U.S. Department of Agriculture reports that global stocks of wheat will exceed international demand by more than a quarter of a billion tons this year.
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