Oklahoma and Texas Panhandle wheat producers may be ready to sell their harvested crops, if the price and the timing are right.
From June 2008 through May 2013, the six-year average wheat price is $6.48. The months of August through November during the last six years, the average price set at $6.50, excluding storage and interest expenses, according to Southwest Farm Press.
The United States is projected to supply 7.7 percent of total world wheat production. Since only about 35 percent of the world’s wheat has been harvested, it is uncertain of the 2014/15 world wheat marketing year production, making wheat prices also uncertain.
Farmers may risk delay in selling their wheat crop for hope of higher prices. One recommendation is to sell wheat in increments of one-third or one-fourth between June and December. With the current wheat supply, demand and price averages, now may be a good time to sell.