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2021 Wheat Price


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#1 paoutdoorsman

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Posted 24 April 2021 - 06:36 AM

I contracted about 1/2 my July wheat crop at $7.07 yesterday.  May turn out to be a mistake, but I believe that's the highest wheat has been since I've been growing it.  Anyone else watching this market?



#2 PaulN

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Posted 24 April 2021 - 09:17 AM

I haven't been watching the wheat market that close, but I have been watching corn. We haven't seen prices this high since April of 2013! That's 8 Years:o  I'm getting ready to pull the trigger also.


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#3 swmnhay

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Posted 27 April 2021 - 05:53 AM

I contracted about 1/2 my July wheat crop at $7.07 yesterday.  May turn out to be a mistake, but I believe that's the highest wheat has been since I've been growing it.  Anyone else watching this market?

Ddidn’t wheat hit $21-24? A bu 10? Yrs ago.

 

Had a landlady had some and I told her she should sell it but never got it done.Think they sold it for $5 a couple yrs later.

 

It was prly  in storage for 10 yrs before got sold



#4 paoutdoorsman

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Posted 27 April 2021 - 07:38 AM

It could have Cy, I'm not sure.  That's before I started this farm venture.  In the last 6 years, the highest I've sold it for is $6.10, but typically $5.25-$5.35.  It was $7.31 yesterday when I checked.  :rolleyes:



#5 Cactus50

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Posted 27 April 2021 - 07:42 AM

Yeah, I saw where corn is at a 7 year high and wheat an 8 year high. Seems it's all due to the poor crop production in North and South Dakota as they are under extreme drought conditions. Also poor production in South America so supply will be dependent on North America. The article said those two states are responsible for 10% of Wheat production and 7% of corn production. 



#6 siscofarms

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Posted 27 April 2021 - 08:22 AM

Just a question because what i have heard , I havent bothered checking , cows dont need it on pasture . Are fertilizer prices also at 10 year highs ?

 Had a buddy of mine tell me that the profit margins were not much different for new crop because inputs have went up . He said look what it would cost to build a new shed right now . Kinda takes the fun out of the good prices .



#7 PaulN

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Posted 27 April 2021 - 09:00 AM

You're right Cy. Wheat did close at $24 back in 2008. It was very short lived though. Minneapolis wheat traded intraday at $28 briefly. I would compare this to the recent feeding frenzy we saw with Game Stop.



#8 Cactus50

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Posted 27 April 2021 - 12:26 PM

siscofarms      Fertilizer prices are projected to by up by only 3% this year due to a rise in Phosphate prices increasing by 23%.

 

This is according to World Bank's Commodity Price Outlook for 2021.

 

Not sure if that what you are looking for.



#9 siscofarms

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Posted 28 April 2021 - 08:31 AM

I wasnt really looking for anything . Just the fact that usually the eye candy of $7 dollar wheat seems like a oh boy momement , and is on old crop , take it and be thankful , but as far as new crop , because of inputs going up , your actual profit margin is the same on $7 wheat as it is on $5 wheat . And seems that when the wheat goes back down to $5 , most the inputs will stay at the same price .  And I did check on fertilizer prices here yesterday , here , potash is $120 per ton higher than a year ago .Nitrogen , wether gas or in a solid form is on average $70 higher . phosphurus is $110 higher . Ofcourse the racket around here with distributors is they want to sell the fert in dec. Always high prices in spring to prove a point I guess to sell there product in dec 



#10 endrow

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Posted 29 April 2021 - 05:03 AM

Lots have been cautious on wheat  the selling here . Very dry here and we had a late freeze that really slowed the wheat down . Did dry fertilizer in March and Early april  I applied N and fungicide and herbicide  followed by a final pass of nitrogen .Half my wheat got Palasde  . Within all those passes got less than 2 inches of rain . April had just 2 showers 3/10 each . 

   Wheat looks good they say it likes it on the dry side , we shall see .The old timers always said it don't take a lot of rain to make wheat , but they werent side dressings 100+ units N.   OH and They just down graded rain again .   






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