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Parts of Kansas can't take advantage of high wheat pricesKIOWA, Kan. (AP)--Wheat prices have reached an 11-year high on the Kansas City Board of Trade, hitting $6 June 14 before falling a few cents at the board's close June 15. But in Kiowa, wheat farmers have been hard-pressed to take advantage of the high prices because they have been faced with the worst crop in more than a decade--one hit by drought, freeze, flooding and disease. "We are going to have very poor quality of a very poor quantity of wheat," said Alan Meyers, general manager of the OK Co-Op in Kiowa. Prices have only reached $6 twice since 1970, the latest was in May 1996, said Shelia Summers, vice president of marketing for the board of trade. Prices hit an all-time peak of $7.44 a bushel that April. Storm clouds have covered the area for weeks now, soaking the winter wheat crop enough that it has delayed harvest and driven up the prices, said Troy Dumler, a Kansas State University agriculture economist. Last year's drought caused farmers to harvest one of the smallest wheat crops of the decade, and Australia had a drought year as well. With two of the world's largest wheat countries wrecked by weather, wheat prices have rallied to reflect the possible supply limitations. Among those with a crop to sell, like Plevna farmer Gayla Moeckel, some have lost out on the higher prices by forward contracting their wheat at a lower price. Farmers don't want to contract too much grain and risk not having the crop to deliver, she said, especially this year. In September, she contracted wheat for around 2,000 bushels for $4.50 a bushel. "It sure looked sweet with the kind of crop we were going to have pre-Easter," she said, noting the Easter weekend freeze that damaged her crop. "I didn't have a crystal ball to know what would happen. "I don't have to go to Vegas to gamble," she said. "I get to gamble every day around here." Date: 6/28/07
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