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Wheat climbs to $7 per bushel

 

February 18, 2021



COLFAX — The price of wheat is more than $7 for the first time in more than five years.

The change is attributed to a few reasons. One is American corn production was short of the USDA’s forecast in 2020 causing a price increase, thus foreign feed buyers have opted for wheat over corn.

The wheat price in Portland first went above $7 on Jan. 8.

Another factor cited is the weakened value of the dollar, which makes for foreign wheat buyers like Japan and China able to use their currency to obtain more wheat.

“When the dollar value gets low, it makes our wheat a better bargain,” said...



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