Sponsored by Lane Powell

Demand and the dollar help spike wheat prices

| Print |  Email
Archives - March 2008
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

6 things to know about the Amtrak Cascades route

The Latest
Friday, May 22, 2015
thumb3BY JACOB PALMER | DIGITAL NEWS EDITOR

The recent tragedy in Philadelphia has called attention to Amtrak and the nation's woefully underfunded rail service. Here are six facts about the Amtrak Cascades corridor between Eugene and Vancouver B.C. 


Read more...

Change at the pump?

The Latest
Tuesday, May 26, 2015
001thumbBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

New Jersey and Oregon are the only two states in the U.S. that ban self serve gas stations. But these two holdouts may be ready to give up the game. New Jersey is considering legislation that would lift the state's ban on pumping your own gas. Oregon is considering smaller scale changes.


Read more...

5 stats about Oregon fireworks

The Latest
Thursday, June 18, 2015
fireworksthumb001BY JACOB PALMER | DIGITAL NEWS EDITOR

Fireworks are a booming industry, even if the pyrotechnics have turned July 4th into a day fire marshals, and many residents, love to hate.


Read more...

Business partnerships: taming the three-headed monster

Contributed Blogs
Monday, July 06, 2015
070615-businessmarriagefail-thumbBY KATHERINE HEEKIN | OB GUEST COLUMNIST

Picking a business partner is not much different than choosing a spouse or life partner, and the business break-up can be as heart-wrenching and costly as divorce.


Read more...

5 things to know about veterans in the workforce

The Latest
Wednesday, July 01, 2015
070215-vetsthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

There are more than 10 million former military members working in the United States.


Read more...

Urban renewer

Linda Baker
Wednesday, June 24, 2015
UnknownBY LINDA BAKER   

One year after he was appointed chair of the Portland Development Commission, Tom Kelly talks about PDC's longevity, Neil Kelly's comeback and his new role as Portlandia's landlord.


Read more...

Apartment Mania

Guest Blog
Thursday, June 18, 2015
4805983977 11466ce1d6 zBY BRAD HOULE | CFA

While most categories of commercial real estate have performed well, one of the most robust has been apartment buildings.


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