Opportunity is There to Make Money on Wheat

 

This unusually warm weather has caused some head scratching among growers with wheat in the field.  Dan Weathington, Executive Director of the NC Small Grain Growers Association:

“Right now I’m looking at a wheat field and it’s a little too tall for this time of year, by the calendar and what we have historically, and cold weather coming in March.  If we dodge that bullet, we’re going to have some pretty good wheat yields.  So, it might be due for us to have a season where we dodge some bad bullets and turn out some good yields.

And as we’ve talked about before, in January we talked about wheat prices inching up, and now they are beginning to inch up, they’ve gone up anywhere between 10 and 12 cents since the first of January when we had our meeting in Raleigh.  I know that farmers are starting to spray for weeds and putting on a little bit of nitrogen and putting a little management on this wheat.  So, I think at this point, it’s not a 10-year average on acreage, and we’ve got some potential at this point to have a pretty good yield.”

This is the advice Weathington is giving growers regarding price:

“On price, I tell them every day…’keep in touch with your local elevator’ and make sure if it spikes, like it did day before yesterday it went up six cents, we’re going to have some of those days between now and harvest.  And it doesn’t’ take but four or five of those to make 30 more cents on your wheat crop.  Stay in touch with your elevators and your buyers as we see those opportunities, they’ll know when to pull the trigger when they’re satisfied.  I don’t think anyone is going to get rich on wheat crop this year, but I think there’s going to be some opportunities to sell wheat close to $5.”

And don’t forget:

“When a lot of money is going out the door, and remember wheat is the first crop where we have cash money coming in on the farm from crops.  So, this year it will come in at a good time.”

Dan Weathington, Executive Director of North Carolina Small Grain Growers.


A native of the Texas Panhandle, Rhonda was born and raised on a cotton farm where she saw cotton farming evolve from ditch irrigation to center pivot irrigation and harvest trailers to modules. After graduating from Texas Tech University, she got her start in radio with KGNC News Talk 710 in Amarillo, Texas.

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