Home Archives March 2008 Demand and the dollar help spike wheat prices

Demand and the dollar help spike wheat prices

| Print |  Email
Saturday, March 01, 2008

wheat.jpg

PENDLETON After a rough 12-year slog with more drought than profit, Oregon wheat growers are finally back in the black, thanks to record wheat prices that are not expected to drop any time soon.

After years of selling their harvest at $5 a bushel, less than it cost to produce, growers watched with amazement over the winter as the price soared to $16 a bushel, buoyed by the weak dollar and unprecedented global demand for grain brought on by crop failure in Australia and a relentless ethanol market.

Growers now have the opportunity of pre-selling next year’s harvest at a healthy $9 per bushel, says Tammmy Dennee, with the Oregon Wheat Growers League. It currently costs $6.62 per bushel to produce. “This is going to be a great year for profit in wheat country,” says Dennee.

The whopping price increase should overshadow more modest price increases in diesel fuel and fertilizer, boosting Oregon wheat growers with cash to invest in deferred maintenance and overdue equipment upgrades.

“Those investments are going to create new wealth in our communities,” says Dennee. “We’re seeing smiles that we haven’t seen in a very long time.”                                           

BEN JACKLET


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

A Good Leap Forward

September 2014
Wednesday, August 27, 2014
BY AMY MILSHTEIN

Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.


Read more...

The Alchemist

September 2014
Tuesday, August 26, 2014
BY LINDA BAKER

David Howitt explains why Portland consumer brands like Stumptown and Voodoo Doughnuts are taking the world by storm.


Read more...

Report Card

September 2014
Tuesday, August 26, 2014

Strong public schools shore up the economy, survey respondents say. But local schools demonstrate lackluster performance.


Read more...

The 100 Best Nonprofits to Work for in Oregon 2014

October 2014
Thursday, September 25, 2014
14BY KIM MOORE

Proud, diverse and underpaid.

Pride in their organizations’ mission, fairness in the treatment of women and ethnic minorities, flexible work schedules — these are just a handful of workplace characteristics that employees of this year’s 100 Best Nonprofits appreciate about their organizations.


Read more...

Video: The 100 Best Survey

News
Thursday, August 28, 2014

100-best-logo-2015 500pxw-1OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.


Read more...

Measure 91: What Oregon Businesses Need to Know

Contributed Blogs
Wednesday, October 15, 2014
91 thumbBY DIANE BUISMAN

Some common misconceptions employers have about marijuana.


Read more...

Launch

October 2014
Thursday, September 25, 2014
BY JESSICA RIDGWAY

October's Launch article features Soul Kitchen, Easy Company and Slick's Big Time BBQ.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS