Sarah Holder

speaker

234 appearances 2 recordings 1 series first heard Apr 2025 last heard Aug 2025

Sarah Holder’s voice in public audio — every appearance, attributed to the second.

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And to make bread, you need wheat.

That's Pat Clements, a second generation wheat grower and president of the National Association of Wheat Growers.

When America's beautiful green wheat fields are thriving, that doesn't always mean America's wheat farmers are making more money.

Walk me through how you set prices.

US wheat prices are heavily influenced by two dominant global suppliers, Russia and Ukraine.

When those countries are cranking out wheat, the prices US farmers get are lower.

When Russia and Ukraine's supply is strained, growers here can make more.

So back in twenty twenty two, just after Russia's ground invasion of Ukraine, prices shot up.

In January 2022, wheat was trading at about $7.50 a bushel.

In March, after Russia's invasion, it spiked, surpassing $13 a bushel.

But it was a short-lived jump.

Russia and Ukraine found ways to keep supplies flowing.

And that, combined with reduced demand in the US, has driven down the prices wheat farmers are getting for their products.

A bushel of wheat is now trading at around five forty.

Pat says the costs of pesticides, fertilizers, labor, and equipment, they're all up.

And farmers fear that squeeze could get even worse, depending on how Trump's trade war goes.

Michael Herzer covers commodities for Bloomberg.

Almost half of US wheat is exported.

Mexico is our biggest wheat buyer.

And right now, the country has escaped the worst of Trump's tariffs.

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