The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Where does one find the amount of wheat imported into this country? I thought we had a drought in Texas and Oklahoma last year? Were approaching a wall of lower prices which dont dictate profits, how low can we take prices down and still say we have a wheat belt from North Dakota to Texas. The dollar amount of a loaf of bread has been said to be about .05-.07 cents. Could you afford another .07 cents a loaf? This means we could double the price of wheat and not really effect product prices such as breads, etc. In all of farming prices always have room to go up.
I say plant the whole corn belt to wheat this year and make enough profit to pay for $8,000 an acre land in one year.
THese guys aren't rocket scientist they are just trying to get your money by coming up with some bulls--t idea.