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SPOKANE, Wash. (AP) - Wheat farmers are harvesting their crop in Washington, but are selling it for prices at or below what it costs to produce.

The Spokesman-Review says farmers took a hit this week by a federal forecast that drove down the already low prices.

On Friday, the base price at Portland for a bushel of soft white wheat was $5.98. Hard red winter wheat was trading at $5.20 and white spring wheat traded at $5.90.

Farmers need to get about $5.50 a bushel to cover costs.

But on Monday, the USDA came out with its August crop production report which showed a 3% increase in wheat production from the July report. That caused wheat prices to drop on Monday and Tuesday.

About 90 percent of Washington wheat is exported.

(1) comment

Cheburashka

Thanks, Trump!!!!!!

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