Oklahoma City, OK – Russian grain export ban helps Okla. wheat farmers
OKLAHOMA CITY (AP) Oklahoma wheat farmers who held onto their grain rather than selling it during the recent harvest are benefiting from Russia's ban on grain exports.
Russian has banned exports of its wheat because of severe drought and wildfires that destroyed about 20 percent of the crop. The ban means countries in Africa and the Middle East are now looking elsewhere for wheat.
Oklahoma farmers are now getting from $5.99 to $6.61 per bushel for wheat. That's up about $2 per bushel from last week and compares to as little as $2.88 per bushel during the harvest.
Oklahoma Department of Agriculture, Food and Forestry spokesman Jack Carson says farmers who were able to sell only enough grain to pay their bills and store the remainder are benefiting.