Profit is growing further out of reach for U.S. wheat farmers and many do not expect to break even in 2024 as ample global supply keeps prices around their lowest in nearly four years at the same time costs including equipment and transport remain high.
April 17 -
"It's hard to describe how that makes me feel without seeming like an angry farmer with a pitchfork," Tanner said. "It makes me feel like I'm working in vain to raise a superior product."per acre at a price of $6.26 per bushel to break even, well above cash prices in the state that have ranged between $5 and $5.80 as well as July futures prices . Winter wheat is harvested in June and July in the Great Plains.
Scott Born, a wheat farmer near Dallas, Texas, said he needs a price of at least $6 per bushel of wheat to break even, a price that is also above the current cash price in his region. While wheat prices have collapsed, farmers said costs for farm equipment, repairs and labor have soared, leaving them with little money in their pocket after harvest. Farmers said crop insurance policies will allow them to recoup only a portion of their financial losses and payouts are not enough to make them whole.
MTPIX AGRI ANLINS CMPNY COM ENV FARM FOBE FOTB GEN GRA NCYC PRIVT SFTS SHFV WEA WHT AMERS US USAND NAMER USAKS TOPNWS PACKAGE:US-TOP-NEWS
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