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11:13 am
Thu June 10, 2010

Oklahoma Wheat Harvest

Lawton, Okla. – LAWTON, Okla. (AP) The Oklahoma wheat harvest is starting in and producers say all is well except for the prices.

The U.S. Department of Agriculture on Wednesday reported prices from $2.88 per bushel in Lawton to $3.35 in Hobart. That's down from $3.59 in Lawton and $3.74 in Hobart last week.

Agriculture analysts say the prices are due to an overabundance of supply leftover from last year and a shaky global market.

Eldorado Farmers Co-op Association general manager Barney Trammell says some farmers are storing their wheat instead of selling it in hopes the prices will rise. Mark Hodges the director of the private wheat marketing organization Plains Grains Inc. in Stillwater says wheat farmers need at least $4.50 per bushel to break even.