GRAND RAPIDS, Mich. (AP) - Climbing U.S. wheat prices on the heels of a drought and wildfires in Russia have some Michigan farmers considering planting more of the crop this year.
Wheat prices have been steadily climbing since June and rose 42 percent in July on the Chicago Board of Trade - its largest monthly gain for the crop in more than 50 years. It reached a recent high of $7.86 per bushel Thursday.
Michigan Farm Bureau manager of commodity and marketing Bob Boehm tells The Grand Rapids Press he expects to see Michigan farmers plant more wheat acreage. Boehm says the price increase is an indication that the market is looking for more wheat.
Russia's drought and wildfires have claimed one-fifth of its crop.
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