Home Back Issues March 2008 Demand and the dollar help spike wheat prices

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

Interview: Dr. Mark Goulston

Contributed Blogs
Thursday, July 10, 2014
JustListenBY TOM COX | OB BLOGGER

Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.


Read more...

Blips and trends in the housing market

News
Thursday, June 26, 2014
062614 thumb realestateBY ERIC FRUTS | OB BLOGGER

Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?


Read more...

Why I became an Oregon angel investor

Guest Blog
Monday, July 14, 2014
AngelInvestBY TERRY "STARBUCKER" ST. MARIE

I really didn’t know that much about angel investing, but I did know a lot about the entrepreneurial spirit.


Read more...

The global challenge

News
Friday, June 27, 2014
062714 thumb globalmarketBY JASON NORRIS | OB BLOGGER

Over the last several months we have seen a wave of cross-border acquisitions, primarily U.S.-based companies looking to purchase non-U.S.-based companies. There are a few reasons for this, but the main culprit is the U.S. corporate tax system. The United States has one of the highest corporate tax rates in the world.


Read more...

Oregon Business wins awards

News
Monday, June 30, 2014

ASBPEOregon Business magazine won two silver awards for excellence in writing in the National American Society of Business Publication Editors Western region competition.


Read more...

Green Endeavor cleans up

News
Wednesday, August 06, 2014
080614 ULnew greenendeavorBY LINDA BAKER | OB EDITOR

Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.


Read more...

Attack of the Robin Sages

Contributed Blogs
Monday, July 07, 2014
070714 thumb linkedinfakesBY TOM COX | OB BLOGGER

Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.


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