The High Plains has long been wheat country. And we’re not alone. Wheat is grown on more land than any other crop in the world.
But, as Bloomberg reports, wheat markets have been glutted for a long while now, and many farmers are turning to other crops as a result. Many parts of the world have seen four straight seasons of record harvests.
Wheat bins in Kansas are bulging overflowing. And prices have fallen to their lowest level in a decade. Last fall, U.S growers seeded the fewest acres of winter wheat in at least 104 years.
Even still, many wheat farmers are expecting to lose money on the spring crop.
So, why the overabundance of worldwide wheat? The weather in recent years has been especially kind to wheat crops, and the grain-yielding grass thrives in all sorts of climates. Every few months there are crops being harvested somewhere in the world.
