Idaho wheat prices are flat—despite the fact that it was an excellen year for Idaho wheat farmers. Yields were good…but prices have hovered just above the break even point.
U of I Economist Garth Taylor says theres too much wheat in the world market thanks to the Russians and European Union.
All Agriculture is local, and droughts halfway around the world impact, Idaho producers. Tom Mosman of Craigmont is getting ready to plant this year, he’s researching the wheat market and he thinks theres a chance in the soft white wheat market: Im going to plant soft white wheat. Theres a chance there to make money.
Economists say the long term outlook for wheat is not good, too many pressures of the market and the lack of embargos…but specialty varieties could be different in 2019. Our specialty crops get dinged when things go bad, but when things are good, therese money to be made with soft wheat.
So that means Idaho producers will focus on specialty brands in 2019, watch the world market and pray for good weather.