Wheat crops are producing new record prices for area farmers. The latest price spike is linked to countries in Asia and elsewhere taxing their exports to battle domestic inflation.
That's making world markets even more ripe for Texas panhandle farmers. Dale Artho usually still has cattle on his land. We've already pulled the cattle off and now what we're trying to do is grow that plant to the maximum yield capabilities that it has, said Artho. He's pushing for maximum capabilities while wheat prices keep reaching new maximums highs.. up to twelve dollars a bushel Tuesday. We're topping records we set yesterday, that top records we set the day before, it's just really a dynamic market, said AgriLife Economist Steve Amosson.
And international competitors are watching. Now you're talking eleven dollars, what are you gonna do, plant less? asks Amosson. You're gonna be planting more and those other countries are seeing the same price, so they're gonna go in and plant more, he says. Artho is trying to grow more in a 100-acre field. Normallly, say we would grow fifty or sixty bushels of wheat, Artho tells us. Now we're gonna try for that eighty to ninety bushels of wheat, he says. That means more water, and more fertilizing so come June, Artho could potentially reap record profits.