On RFD-TV: Cory Walters | Winter Wheat

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05/24/2022 Added

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Characteristics of hard red winter wheat can vary from variety from variety, and some are higher quality and better suited for milling and baking than others. University of Nebraska-Lincoln agricultural economist Cory Walters and several colleagues aimed to find out if farmers who produce higher quality wheat receive a higher price for their product. Walters talked live to RFD-TV, May 24, 2022.

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[00:00:00.330]About 36% of US wheat is hard red winter wheat, which
[00:00:04.410]can be milled and baked into bread.
[00:00:06.810]University of Nebraska ag economists are finding out
[00:00:09.600]whether farmers who produce this higher quality wheat
[00:00:12.690]receive a higher price.
[00:00:14.550]Cory Walters joins us now for an update.
[00:00:16.980]Thanks for joining us, Cory.
[00:00:18.300]So what were the findings?
[00:00:19.590]Do farmers receive a higher price for higher quality?
[00:00:25.860]The short answer is yes.
[00:00:27.150]But indirectly, a little bit of background, when when
[00:00:30.930]farmers deliver their wheat, they do get some great
[00:00:34.890]factors for quality on that settlement sheet. And on
[00:00:38.550]top, there's some some fixed ones.
[00:00:42.000]And then some elevators also add a couple in there,
[00:00:44.580]like protein and falling numbers.
[00:00:48.030]So when those things are favorable to those quality
[00:00:53.400]characteristics, the farmers will get a higher quality
[00:00:55.560]or higher price for that wheat.
[00:00:58.140]And essentially, we wanted to look at whether there are
[00:01:01.080]some other factors, specifically, milling and baking
[00:01:04.080]quality characteristics, see if they're paid for those.
[00:01:06.870]So talk about the characteristics that they're actually
[00:01:09.300]looking for overall, what are some of those, that is it
[00:01:12.720]all about the milling and the baking?
[00:01:16.890]In this study, yes, that's what we were we were looking
[00:01:19.560]for, because that was kind of the original idea that
[00:01:22.560]farmers were thinking they weren't being paid for these
[00:01:25.650]things.
[00:01:26.670]But let's go into a milling one, let's go with oh, with
[00:01:34.770]kernel size, so when there's a larger kernel, then then
[00:01:38.580]they get more more, more great flour out of that thing.
[00:01:42.420]And then on the baking side, when crumb and texture and
[00:01:46.260]those sorts of things, they also impact the quality or
[00:01:49.230]the baking side of that.
[00:01:51.090]So kernel size and weight really determines I mean,
[00:01:54.030]obviously you're gonna get more flour wheat right when
[00:01:56.790]it's milled, so that really plays a part in these
[00:01:59.280]prices.
[00:01:59.730]So when you're looking at these settlement sheets, do
[00:02:03.360]they have to have more characteristics then added to
[00:02:06.000]Is baking and milling? Is that all part of it and how
[00:02:06.270]it?
[00:02:08.850]it affects a bread?
[00:02:12.870]Yeah, that's what we were we were trying to find
[00:02:15.060]whether whether that those ones that aren't being
[00:02:17.580]shown, the baking and milling that aren't aren't being
[00:02:20.370]shown on those settlement sheets are actually showing
[00:02:23.760]up on the farmers pocketbooks.
[00:02:25.740]And that's essentially what we what we did find that
[00:02:28.830]they are but but it's not done through actually testing
[00:02:32.610]for those on the farmers settlement sheets.
[00:02:34.590]It's done at a more of a aggregate level where the
[00:02:39.360]millers and bakers come in and look at what the quality
[00:02:42.750]is in a region and then they bid for that grain in that
[00:02:46.740]region looking looking for those milling and baking
[00:02:48.930]characteristics.
[00:02:50.280]Interesting stuff.
[00:02:51.270]So this is yeah, so this is good news for farmers
[00:02:54.330]they're paid. We're advocating for for this to be shown
[00:02:57.690]actually on the settlement sheet.
[00:02:59.280]So that then we can increase market transparency so
[00:03:02.610]farmers can see what they're being paid for.
[00:03:06.000]Absolutely great insight.
[00:03:07.000]Thank you so much University, Nebraska-Lincoln,
[00:03:09.640]agricultural economist, Cory Walters, we appreciate you
[00:03:12.370]joining us.

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On RFD-TV: Cory Walters | Winter Wheat

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