Northwest Farm Credit Services is out with its quarterly snapshot of major commodities across the Northwest. Over the next five days, we’ll break down the expectations for local producers. Today, we look at wheat and wine. Karen Witt, NWFCS Vice President said wheat growers are expected to be slightly below break-even due to continued low prices and variable crop conditions.
“Drought conditions troubled growers across the region, especially in eastern Montana. The USDA’s 2017-18 forecast all-wheat price is between $4.30 and $4.90 per bushel.”
As far as the wine industry is concerned, Witt expects good quality and average to slightly below average yields are expected for Washington and Oregon.
“Solid profits for the wine industry should continue as a result of positive consumer trends and strong wine sales. Total U.S. wine sales are up 6% year over year. The direct-to-consumer marketing channel continues to provide opportunities to wineries, growing 18% compared to last year.”
Witt noted if there is a downside for Northwest wineries, it comes from Idaho, where yields are significantly reduced due to severe winter damage.
Join us Wednesday as we take a look at the Apple and Tree Fruit industry.
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