05 Jun Jenna: High moisture and low prices
Hamlin, Texas – We’ve had a frustrating past couple of days. When I wrote on Wednesday, I mentioned that we had run into high-moisture wheat. While we have been able to cut a little the past two days, we are still fighting high moisture. It seems like we’ve done more moving and testing than anything else and, unfortunately, it feels like we’ve sort of lost the momentum we had at the very start of the season.
It was around 100 degrees today and the forecast shows at least 100 for the next couple of days, though, so hopefully this whole high-moisture thing will clear up.
On another note, I think it’s important to mention what’s happening in the wheat world. And that is: the prices have dropped. Reports on Chicago wheat, for example, say that prices this week are the lowest in eight weeks and are close to reaching a three-year low. An article out of Oklahoma states that wheat closed at $3.41 to $3.83 a bushel on Tuesday and that last year, prices in the state ranged from $6.16 to $6.79 a bushel. Of course these are only a couple of reports, but enough to get the picture, I think.
Low prices like these affect everyone in the wheat industry.
Jenna Zeorian can be reached at firstname.lastname@example.org. All Aboard 2010 Wheat Harvest is sponsored by High Plains Journal and DuPont Crop Protection.