Global Wheat Crisis Impacts Panhandle - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Global Wheat Crisis Impacts Panhandle

Elise Preston
NewsChannel 10

WILDORADO---In light of an international wheat shortage, people from all over the world are turning to the US to put food in their cabinets.

Russia is one of the world's leading producers of wheat. However, this year, droughts and wildfires are to blame for the country not producing much grain.

Here in the Panhandle region, we export half of all wheat crops harvested. Local farmers tell NewsChannel 10, the global crisis helps them after several skim years.

"We understand what Russia farmers are going through because we have dealt with a drought the last 5 years. So these higher prices are helping to shore up from the past 5 years. However, we need these Russian farmers to be successful because there is going to be a lot of people to feed on this earth by the year 2050."

Early this summer,  before Russia banned wheat exports , rumors spread that there would be too much wheat in the global market. So many farmers in the Panhandle sold off their crops at much lower prices than they are now.

Right now, a bushel of wheat is selling around 7 dollars. That's a few dollars more than it was in June and July. Despite what local farmers are making from the field....they have advice for grocery shoppers in the Panhandle. 

"National media wants to push, 'oh my gosh we are going to run out of wheat, there is not going to be any wheat left. Bread and pasta prices are going to go up. The main point is, in a loaf of bread there is ten cents worth of wheat right now. So the price of wheat could double, but the average consumer in Amarillo, Texas is not going to see a major impact in his bread prices."

This year, Panhandle farmers had really good crops thanks to all the snow we had this past winter.

Powered by Frankly