Russian suspension of grain exports could benefit Wisconsin farmers

Wisconsin's grain farmers could cash in on Russia's plans to suspend grain exports.

Currently, Russia is experiencing its worst drought in 130 years. Its ban could last until the end of the year.

John Petty of the Wisconsin Agri-Service Association says prices should go up dramatically for grains, including export quality wheat and corn. He says Wisconsin has a “fantastic corn crop” sitting in the field that’s likely going to be a record yield.

“And because of the increase in the price of wheat, the value of all grains is being pulled up with it," adds Petty.

Wisconsin farmers planted around 250,000 acres of winter wheat this year, and almost four million acres of corn.

Tags: news, grain, wisconsin, russia