Washington Wheat Harvest Helps Offset Costs, But Low Prices Remain a Concern

The wheat harvest in Washington state has been above average, despite high input costs driven by trade fights and the war with Iran.

The timely spring rains helped produce a good crop, but farmers are still facing low prices for their soft white wheat. The price at Portland is around $6.80 per bushel, which doesn't include shipping costs, leaving farmers with about $5.80 per bushel after expenses.

Randy Fortenbery, an emeritus professor of economics at Washington State University, noted that farmers can only continue to operate under a scenario where prices don't cover production costs by dipping into their equity or going into debt.