Wheat acres and frankly wheat’s reputation have taken a hit in recent years, overshadowed by canola’s promise of big yields and big profits. Then 2012 came along and the crop totally redeemed itself. Even in the face of extreme weather and drought, this year’s wheat yields and quality have put a smile on many farmers’ faces. Canola, on the other hand, had a very tough year and disappointed many.
The change in fortunes for wheat has many farmers optimistic and happy to jump back into more wheat acres, and for good reason. The crop is well suited to the Prairies. We have fantastic varieties to choose from, farmers are well-versed in top notch production practices and marketing options are plentiful. There is, however, risk to too much of a good thing.
In this video, Remi Schmaltz, general manager with Decisive Farming, shares his view on the downside risks to going hard into wheat for 2013, and discusses added factors at play in the oilseed markets.
(Correction: Remi refers to soybeans being high-input — the crop needs fewer inputs than canola)
If you cannot see the embedded video, click here.