Outside factors creating uncertainty for wheat

The wheat harvest is picking up momentum across the Pacific Northwest and as farmers gather this year’s crop, the sector keeps an eye on outside facts that could create hurdles.

“It seems to me that we’re pretty much on course, but if we do receive some cooler weather again, it might delay us a little bit,” Michelle Hennings, the Executive Director of the Washington Association of Wheat Growers. “We’re hoping that it will warm up, turn, so we can get our harvest off the ground.”

In addition to weather, the grain market is also still fighting the negative trends brought on by the coronavirus uncertainty.

“Obviously, we took a hit in March when COVID hit by 8.5 percent. It went from $6.33 to $5.79... Usually, the wheat prices at harvest time seems to always go down and when I looked today, we’re at $5.13. This is very concerning because our break-even is $6.50 to $7 dollars,” Hennings said.