IDAHO WHEAT COMMISSION

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Wheat Price Perspectives: A Look At Long-Term Trends

Over the last year, world wheat prices have trended steadily lower, continuing their fall from the highs hit in May of 2022 after Russia invaded Ukraine. Ample wheat stocks from Russia and record exports flowing from the Black Sea continue to weigh on global wheat prices. The average world FOB price has decreased $32/MT from the start of 2024 and is nearly $255/MT less than the May 2022 high, according to AgriCensus price data. Although the war still rages in Ukraine, the war risk premium has eroded in the market, allowing prices to revert to pre-war trends. The following will outline the current price situation and highlight factors to watch as wheat markets align with long-term trends.

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April 30, 2024
Winter Wheat Virus Gaining Foothold in North Idaho
Reports of Soilborne Wheat Mosaic Virus are on the rise in north-central Idaho. The virus and yield-reducing disease it causes were first found in Idaho in 2023, in Nez Perce County. This disease has likely gone undetected for a number of years due to symptoms resembling other diseases or disorders in wheat such as nitrogen deficiency.
April 30, 2024
Agricultural Officials Pleased with Early Returns
Although Idaho has had some windy conditions and subfreezing temperatures, it has not slowed the momentum of field work. Farmers have been able to start work in their fields earlier than they have in recent years, and spring planting is looking good so far. “Spring planting of cereal grains is going all full-steam,” said University of Idaho Nez Perce County Extension agent Doug Finkelnburg.
April 30, 2024
EPA Promises to Make Herbicide Strategy Better for Farmers
There is a pressing issue of rapidly evolving herbicide-resistant weed populations that pose a threat to crop production sustainability for Idaho wheat farmers. With promised improvements made by The Environmental Protection Agency (EPA), farmers will have more options for controlling weed populations more effectively.
April 30, 2024
Planted Acreage Uncertainty Disrupts U.S. Grain Markets
Idaho wheat farmers have planted about 1.16 million acres of wheat this year, just a slight decrease from last year's 1.17 million acres. Assuming normal weather as the winter wheat crop progresses and spring wheat crops are seeded, wheat futures could feel a downward tug in early summer. While analysts expect wheat price weakness this summer, the near-term outlook is described as less bearish.
April 30, 2024
Strategies for Managing the Unique Stresses Faced by Ag Producers
The agricultural community is increasingly worried about the profound mental health issues affecting its producers. This highlights the crucial need to tackle stressors and create a dependable support system with trusted advisors. There are many unknowns in agrculture that can cause stress for Idaho farmers. Experts identify these potential stress areas as production risk, financial risk, legal risk, and human risk.