- Location
- Left in the middle of nowhere
The average price of wheat in 1980 was £105/tonne which would be worth £397.12 today, which means a grain store isn't the best bank account all of the time.......
£200/t wheat ...
- Thread starter shakerator
- Start date
organicguy
Member
- Location
- North East of the south west
Or 140 ft of batten against 100 ft today for a tonne of wheat.
OPEC also had fairly flat oil prices from the late 1970s until Saddam Hussein marched into Kuwait. Thanks to OPEC, we had North Sea oil, tar sands in Canada, biofuels and USA is now the biggest oil producer in the world. They also struggle to agree with each other now the likes of Russia and Venezuela are in OPEC+.
Cartels are ultimately self defeating because they create room for alternatives. Even Apple cannot dictate the smartphone market.
Pieces_of_Eight
Member
Never thought i'd be reading about people complaining about getting paid £200 for a tonne of feed wheat...
- Location
- Lincolnshire.
Ever met any actual farmers?
Devil's advocate
Member
- Location
- Posh side of Barnsley
You come across as bitter? Why?Seems better than the £60 /ton offered in the late 1990's......
But yes, £200 is nothing to write home about. Should be nearer £1000 / ton to get back to the buying new tractors era of the 1960's/ 70's.
Got to keep the price low though, so big boys can carry on hoovering up all the small farms...
I've similar background but feel wealthy.
How many people have actually sold wheat at £200? Forward feed prices nowhere near. You lot as bad as land agents
When I went away to school aged 13, a 29 t lorry load would have paid a years fees. Even with wheat at £200/t it would take nearer seven lorries today. That’s how poor farming has become.
- Location
- Lincolnshire
10 years ago I bought a teiehandler with 5000 hours on the clock for £6000. Today equivalent secondhand machine is £28,000. So I simply can’t afford to upgrade my machinery. We are stuck with old kit till retirement, although at least it’s mostly repairable.
But on that basis wheat should be about £600 per ton.
But on that basis wheat should be about £600 per ton.
- Location
- Lincolnshire
Too right. They seemed to be bunged out with poor quality wheat of low bushel weight. So slow movement to limited number of more forgiving homes, no export boats and some hefty deductions. Yes better prices are welcome but it’s hardly a bonanza here.
Goweresque
Member
- Location
- North Wilts
Given the price of oil has fluctuated between $110 and $20 per barrel over the last decade, I think we can safely say the oil cartel is not very successful in controlling the oil price. Not least because oil was $20 a barrel in the 1970s and isn't much above that today 40+ years later, much like grain prices really.
Ever since the development of fracking technology and its widespread adoption in the US, OPEC has struggled to control the oil price at all. Every time they agree to reduce production in order to drive the price up the US frackers turn the taps on and flood the market with oil, driving it back down again.
Pieces_of_Eight
Member
A night after working the streets, three prostitutes who lived together were sitting around having coffee and discussing the tricks from the night before.
The first one said " I had a fireman the night before and the other two said "How could you tell?" and she replies "That's easy ... his hose was over his shoulder and he smelt like like smoke."
The second one said "I had a policeman ... "The other two said "How could you tell?" and she replies "He pulled out his handcuffs and used his baton on me."
The third one said I had a farmer last night and the other two said "A farmer are you sure?" and she said "Yes, first he complained it was too wet, then it was too dry and then he wanted to wait until spring to pay me."
I've had two prices on the same day (from 2 different merchants), both over £200 for May '22.
Ex North Midlands, just FW, no premium.
Correct, me neither and I have a degree in Economics.
It works out at £189 a tonne...
Yeah but you haven’t factored in the bag of cement!!
In that case then the wheat price is probably minus haha
Enry
Member
- Location
- Shropshire
I think that the OP was making the point that a ton of wheat at £200 today buys less general inputs than a ton at £140 two years ago
I agree with that but he uses 2.8% as his yardstick.
Agree ag inputs are certainly going up by more than 2.8%... unfortunately
Enry
Member
- Location
- Shropshire
I think he was making the point that "official" inflation figure is 2.8% which is clearly not the case with many non domestic itemsI agree with that but he uses 2.8% as his yardstick.
Agree ag inputs are certainly going up by more than 2.8%... unfortunately
A lot more beer though
- Location
- Lincolnshire
At this rate, if I buy a pallet of cement and a farm, in 40 years the pallet of cement can be sold to pay off the mortgage...