Wheat prices are at their highest level in three years, which means farmer Merrill Nielsen should be getting more for his crops out of his 2,500-acre (1,010-hectare) Kansas farm.
Yet even as future prices for bread-type wheat are up 39%, Nielsen is unsure whether increased prices will raise his bottom line. The price of diesel fuel, which he needs to run his tractor, has hit record highs. Then there’s the erratic weather that made him lose his entire wheat crop in the spring, and drought has overtaken the southern Great Plains.
