In Ohio, 930,000 acres were planted with wheat compared to last year’s total of 780,000 acres, according to the USDA. Seeding of winter wheat acres are up 10 percent to total 41 million acres nationwide, the National Agricultural Statistics Service reported.
Helping fuel last fall’s renewed interest in wheat were better economics and favorable planting conditions, said Purdue University agricultural economist Chris Hurt.
“The price of wheat escalated in the fall of 2010 with the poor wheat production in Russia and Canada,” he said. “Secondly, conditions for planting wheat improved dramatically with the early harvest of corn and soybeans, and by fall helped producers get the crop planted in a timely manner.”
Cash prices for wheat are hovering at $7 per bushel. Corn is trading at a cash price of about $6 a bushel, with soybeans about $13.50 a bushel.
While $7 would seem an attractive price, wheat might not be able to compete with $6 corn, Hurt said.… Continue readingRead More »