Peak wheat

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Saturday, November 01, 2008

The price of soft white wheat at Portland rocketed above $14 in January of this year but has drifted toward earth since then, still well above the $4 level, where it had stagnated for years. The value of Oregon’s wheat production in 2007 ($360 million) was the 12th highest among the 50 states, and Washington ranked third. Eastern Oregon accounted for 88% of the state’s 2007 production, which  declined 13% since 2005 but, due to the spike in prices, the value of this harvest jumped 103% during the same period.
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