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Wheat prices at all time high, farmers claim inflation cuts into profit

Published: May. 19, 2022 at 6:40 PM CDT
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Lake Charles, LA (KPLC) - Skyrocketing inflation is causing problems for local wheat farmers.

May is usually a busy month, and though the price of a bushel of wheat is at an all time high, farmers said the costs of running a farm are also skyrocketing.

The start of long days began this month, as May means wheat is ready for harvest.

“It’s about as perfect of a growing season as we are ever going to see for winter wheat here in Louisiana,” David Smith said.

For long time farmer David Smith, the price per bushel of wheat is unlike anything he has seen in his 25 years of growing wheat.

“We’ve never seen prices this high,” Smith said. “I have never seen them this high.”

That is due to the Ukrainian invasion. Both Russia and Ukraine are major exporters of wheat, but the war means U.S. farmers must fill the gap.

Smith said on average, a bushel of wheat costs five dollars,

“But this year, like I said, it’s double,” Smith said. “We are looking at strong yields and strong prices.”

But that doesn’t mean he is profiting more. Smith said supply chain issues have made it harder to get items he needs.

“Herbicides and pesticides and fungicides have been harder to get,” Smith said.

Inflation has sent the prices of those items soaring.

“Yeah, we are getting record wheat price for our crop, but everything else has doubled,” Smith said. “The fertilizer has almost tripled.”

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