IDAHO WHEAT COMMISSION

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Economist to Farmers: 'Lower-Price' Wheat Year Ahead

World wheat production is projected to increase this year compared to last. Although global wheat supplies will be similar to last year's, consumption is expected to decrease. Consequently, prices are likely to drop due to the distribution of supplies. Major importers have more wheat this year than in previous years. Despite major exporters having less wheat, the reduced demand from importers, who require less, contributes to the lower prices.