Wheat Prices Continue To Struggle With Glut On Global Market

Wheat prices struggled over the past week, with some prices come in around the three dollar range.

So, what’s going on with the wheat market?

Caroline Clements, ag promotion coordinator with the Nebraska Wheat Board, said the global commodity is dropping as so many other countries buy and sell wheat cheaply, which is not working in the U.S.'s favor.

“We haven’t exported any wheat into China since March of 2018, you know, if we can get some of the USMCA implemented hopefully that will, even out concerns, with some off our markets into Mexico, but then, with TPP, its going to put pressure on some of our wheat export market share into Japan.”

Clements added, it is a concern, as the production of wheat is starting to make breaking even a challenge.

“So farmers are actually losing money growing wheat and you can see the results of that in some of the decisions that they make.  So, actually this year for the first time Nebraska state history we’ll have fewer than one million acres of wheat planted.”

Clements said farmers are diversifying more to ease the pressure of relying on just one crop.  She noted where American wheat farmers still stand out globally is in quality.

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