Oregon grows more wheat despite market drop

Natural Resource News Note:

From The Oregonian, “The amount of wheat planted nationwide has declined sharply the past three years as the price per bushel retreated from record highs. The national total went from 63 million acres in 2008 to about 54 million acres that will be harvested this year.   But in Oregon, the amount of land planted in wheat this year — 965,000 acres — is the highest it has been since 2004.

Meanwhile, the bushel price last year was $4.60, way below the $8.23 and $6.56 farmers earned in 2007 and 2008, respectively.  Are the state’s wheat growers clued into a price rebound that the rest of the country doesn’t see coming?”

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