The U.S. Wheat market is struggling to compete internationally against countries with cheaper production rates and currency compared to a strong U.S. dollar. Specialists associated with the University of Kentucky College of Agriculture, Food and Environment offered advice at their annual Wheat Field Day in Princeton, Tuesday morning.
“775 million bushels, that's the lowest amount of exports since 1971, since Earl Butz former US Secretary of Agriculture opened up the grain bins and sold wheat to the Rooskies, the USSR--lowest of my lifetime and that’s going to be a perpetual problem,” says Todd Davis, a University of Kentucky Grain Crop Economist.
Davis says the U.S. is becoming a residual supplier of wheat because international competition is so tough.
Malcolm Rice Oatts is an 84-year-old farmer from Hopkinsville and won’t let the market conditions stop him from growing a crop he loves.
“I tell people I would grow wheat knowing I was gonna lose money because it's a beautiful crop in the winter time, it holds the soil and keeps it from erosion and I just love wheat,” says Oatts.
Is there a panacea to make US wheat more competitive? Not really, barring a major disaster devastating the international competition. But some farmers continue to focus on new wheat varieties and technology to increase yield.
