Today’s Northwest Farm Credit Services’ Quarterly Commodity Snapshot Series transitions to wheat and hay. When it comes to wheat, NWFCS Vice President Bill Perry says their 12 month outlook anticipates profitable returns for producers.
“Higher prices for wheat and crops grown in rotation will bolster producer returns. The USDA raised export projections for white wheat, while the outlook for hard red winter wheat demand moderated. Drought conditions in eastern Montana will likely provide headwinds to producer profitability in the region.”
Meanwhile, when it comes to the hay industry, Perry says the 12 month outlook calls for slightly profitable returns.
“Producers in drought stricken areas will face headwinds to production and profitability. Shipping container disruptions will slow exports, potentially leaving a supply overhang in key export regions. Higher prices for corn, soybeans, and wheat will provide tailwinds to producer returns.”
Join us Wednesday, as Perry provides his insights on the dairy and beef cattle industries.
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