Posted on 06/18/2024 7:28:29 AM PDT by eastexsteve
I'm beginning to think we are being gaslighted again. We've heard all year how the Ukraine/Russia situation was going to drive the price of wheat up so much that a loaf of bread would cost $10. Well folks, it didn't happen. I sold my Oklahoma wheat this morning for 5.72/bushel, which is down from 7.80/bushel last year. It's a big drop, but not as big as I've seen over the years. However, last year was a bad year for wheat nationwide, and I think that's what drove the price of wheat up. This year, we had a great crop, so the price is down. And, what was happening in Ukraine didn't seem to matter.
Ukraine/Russia really matter?
~~~
Only the human fodder continuously torn asunder.
Seems like the war is always framed up in terms of economics and territory.
Well, suddenly people discovered large-scale wheat exports from Argentina and Australia, so...
It’s a rich man’s war, and no normal person has the slightest actual interest in it. And it wasn’t caused by DC/London/NATO for their benefit.
Back when Reagan was president and when Russia owned Ukraine, we had to sell them wheat. Just sayin’
Brother farmer my wheat is worth 6.02 per bushel here in central Kansas right now. I think it’s only down .02 today, but tanked .21 yesterday. There ain’t going to be a whole lot of extra money on this farm this year. We got to hang on. Take care.
You say wheat prices being down means Russia doesn’t matter, but the reality is the opposite. Wheat price is down in part because of Russian wheat production.
Russian wheat production is at record high levels. This is the most recent report from the USDA foreign agricultural service:
Apr 11 2023 | Russia Wheat: Record MY 2022/23 Harvest
USDA’s estimate of Russia wheat production for MY 2022/23 is a record 92.0 million metric tons (mmt), up 22 percent from last year and 18 percent above the 5-year average. The estimate includes 68.0 mmt of winter wheat and 24.0 mmt of spring wheat. Total wheat yield is estimated at a record 3.17 tons per hectare (t/ha), up 17 percent from last year and 12 percent above the 5-year average. Total harvested area is estimated at 29.0 million hectares (mha), up 5 percent from last year.
Hhweet
I agree that Russia does matter. But, how much? I went back and looked through my previous harvests over the years, and it appears that the yield of local harvests had more to do with the price than Russian exports.
Is wheat a fungible commodity? Ukrainian wheat is considered low quality and isn’t imported to the US and much of Europe.
O believe more farmers planted wheat so there’s more supply to meet current demand.
It would be nice to hear your ideas on this thread.
‘Gold mine’ of Century-old Wheat Varieties Could Help Breeders Restore Long Lost Traits
https://freerepublic.com/focus/f-chat/4245337/posts
‘Gold mine’ of Century-old Wheat Varieties Could Help Breeders Restore Long Lost Traits https://freerepublic.com/focus/f-chat/4245337/posts
The wheat we are using now is genetically engineered to deliver high yields, drought-tolerant, disease resistant, and grows fast. And, it doesn't get very tall before it puts on grain. And, it stores well. I don't know what other "positive" traits you would want. Before the newer varieties of wheat came along, you were in danger of losing your crop for a variety of reasons that these newer GMO wheat varieties prevent.
In regards to fertilizers, different fertilizers have different effects on different crops. It's not just a matter of using more or less, but the right mix according to your climate, soil conditions, and crop. Even in your home garden, you wouldn't use the same type or amount of fertilizer on tomatoes that you would on sweet potatoes. And, that fertilizer needs to be "fine tuned" to match your soil conditions.
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