Soft white wheat prices hit $7.65 a bushel locally
Soft white wheat prices have been up for the past few months, hitting $7.65 a bushel yesterday and this morning, Feb. 25. In this file photo, Mid Columbia Producers piled wheat south of Arlington at Cedar Springs last summer. Coops can pile millions of bushels on the ground in years when inexpensive storage is needed.
Soft white wheat prices in the mid-Columbia hit $7.65 per bushel yesterday and were still sticking there this morning, according to Mid Columbia Producers cash bid.
It’s always a good sign to see that price rise for our producers, said Amanda Hoey, Chief Executive Officer for Oregon Wheat Growers League. “Most recently we’ve seen a really strong uptick in demand for our product from China.”
She said dry conditions and severe winter weather globally have also motivated buyers to pay more.
”This is the highest price point in several years,” she said.
The price is up more than a dollar in the past two months, which is welcome news for farmers who looked long and held onto bushels for a late sale.
“Wheat futures prices were largely mixed, though slightly lower this morning on a round of profit-taking after hitting a five-week high yesterday,” according to Farmprogress.com’s morning market report. “The wheat market continues to wait on fresh news of Chinese purchases.”
