Wash. wheat farmers closely watching Japan disaster
SPOKANE, Wash. (AP) - Washington wheat farmers, who sell a fifth of their crop to Japan, are closely watching the disaster unfold across the Pacific.
The Spokesman-Review reports Japan buys more Washington wheat each year than any other country.
It's too early to know if the 8.9 magnitude earthquake and tsunami will affect sales and shipments to Japan. But the price of wheat has dropped more than a dollar a bushel this week and some analysts say prices are poised to go lower.
Tom Mick of the Washington Grain Alliance is focused on assessing the damage to ports, rail lines and milling operations in Japan.
At the same time, Mick is also watching the political turmoil in Egypt and Yemen. Together, those two countries bought another 20 percent of the wheat grown in Washington last year.
The Spokesman-Review reports Japan buys more Washington wheat each year than any other country.
It's too early to know if the 8.9 magnitude earthquake and tsunami will affect sales and shipments to Japan. But the price of wheat has dropped more than a dollar a bushel this week and some analysts say prices are poised to go lower.
Tom Mick of the Washington Grain Alliance is focused on assessing the damage to ports, rail lines and milling operations in Japan.
At the same time, Mick is also watching the political turmoil in Egypt and Yemen. Together, those two countries bought another 20 percent of the wheat grown in Washington last year.
Learn about changes coming to commenting