NFWCS: Hay, Wheat Expected To Be Profitable

As we wrap up this week’s look at Northwest Farm Credit Services’ snapshots of area commodities, we take a look at hay and wheat.  Karen Witt, NWFCS Vice President said wheat producers should expect slightly profitable returns this season, with above-average wheat production.

“Conversely, global supply is projected to decrease, favoring wheat prices. USDA’s projections suggest the 2018-19 season-average farm price for all-wheat will be between $4.70 and $5.50 per bushel. Trade uncertainties and the elevated dollar continue to constrain U.S. export competitiveness in the market.

As we turn to the hay market, Witt says alfalfa and timothy producers will likely be profitable.

“Fundamental supply conditions favor alfalfa hay prices and producer profitability across the West. However, uncertainty regarding trade looms. Resolution of trade disputes would benefit the hay industry as increasing milk price could support hay prices," Witt said.

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com