Decade Lows In Wheat Prices Supports Need For Effective Farm Bill

Record yields across the U.S. and favorable conditions around the world this harvest season have brought the lowest price of wheat in nearly a decade, with wheat futures down, causing a dilemma for elevator operators as an oversupply of wheat has caused over-capacity in some areas. Affecting everyone from farmers to agriculture suppliers, these depressed prices are contributing to a general downward spiral of the farm economy, exacerbated by the threat of cut to certain programs in the Farm Bill, such as crop insurance and Title 1 programs, which protect farmers in times like this. With stagnant markets, many producers aren’t able to cover their cost of production.