Producers are starting to think about winter crops and winter planting as early as next month. Eddie Griffis said producers may want to lock in contracts now for price stability.
"As we get closer to fall, there's probably a lot of guys out there considering growing wheat. A recent report showed that we could see the stalks fall about 20%. Wheat being one of those crops that is grown year round, that number could be made up relatively quick. Seven dollar wheat is something that producers will have to make their mind up if they're willing to grow wheat for seven dollars," Griffis said. "A lot of producers out there will still be planting wheat as a cover crop and inevitably as we get into spring time it's anybody's guess where we can see wheat prices. The corn we know definitely going to have a $4 in front of it for the next year, possibly a $3. And that's not going to be really lucrative probably to grow corn in this area in another year. Guys are looking at trying to do some forward pricing if they're thinking about growing corn in the next year, and that could be the same kind of situation when it comes to wheat. It's going to be a little bit of a gamble as we go into fall. Right now speculation is that it will be at seven dollars but wheat being a crop that is grown year round, that number could definitely change."
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