As we wrap up our weeklong look at Northwest Farm Credit Services’ quarterly commodity snapshot, we take a look at wheat and hay. Bill Perry, Vice President at Northwest Farm Credit Services said their 12-month outlook calls for slightly profitable returns for wheat growers.
“The USDA’s projected 2020-21 season average farm price for all-wheat is $4.50 per bushel. Current markets are showing a higher average of $4.70 to $4.80 per bushel from the 2019-20 season. High yields and government payments will partially offset otherwise break-even wheat prices.”
Meanwhile, Perry noted the outlook for hay growers is varied.
“Rain disrupted first cutting and smoke in September slowed drying times for late cuttings. Export volume slowed during the summer as traders assessed exportable supplies,” Perry noted. “Individual producer profitability will depend on the ratio of high- and low-quality hay.”
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