|
Economic Impact
Timeline
The
Past
The
Present
The
Future
The
People
Resources
|
Timeline
of economic factors
| Average
Price of a Bushel of Spring Wheat Received by North Dakota
Farmers |
| 1929 |
$1.06
|
| 1948 |
$2.01
|
| 1929 |
$2.04
|
| 1967 |
$4.45
|
| 1990 |
$2.44
|
| 1995 |
$4.71
|
| 1999 |
$3.05
|
| North
Dakota Agricultural Statistics Service |
|
 Price
of Wheat
Farmers in North Dakota
have always had to deal with erratic changes in income because
of changes in supply and demand for agricultural products. The
price is also impacted by government policies around the world.
The growth in mechanized
farm equipment and growth in production around the world produced
an unusually high carry-over in July 1920. Prices collapsed. The
price in June averaged $2,58 a bushel. It dropped to $1.43 by
December. A year later it was 90.5 cents a bushel. Meanwhile farm
expenses had greatly increased.
|
| Average
US yield per acre of wheat with average price |
|
Year
|
Yield/acre
|
Price/bushel
|
|
1866
|
11
|
|
|
1906
|
15
|
.66
|
|
1920
|
13.5
|
1.82
|
|
1945
|
17
|
1.49
|
|
1960
|
26
|
1.74
|
|
1971
|
33.9
|
1.34
|
|
1974
|
27.3
|
4.09
|
|
1980
|
33.5
|
3.91
|
|
1985
|
37.5
|
3.08
|
|
1990
|
39.5
|
2.61
|
|
1999
|
42.7
|
2.55
|
| National
Agricultural Statistics Service |
|
| Cost
of Machinery |
|
1912
|
110
horsepower Case tractor
|
$3,000
|
|
1948
|
30-39
belt H.P.
|
$2,420
|
|
1975
|
110
- 129 PTO or belt H.P.
|
$22,000
|
|
4
-wheel drive
|
$40,500
|
|
2000
|
110-129
PTO
|
$62,400
|
|
4-wheel
drive
|
$120,000
|
| North
Dakota Agricultural Statistics Service |
| Average
Value of Land in North Dakota |
|
1945
|
$16.40
per acre
|
|
1965
|
$67.80
per acre
|
|
2000
|
$
|
| North
Dakota Agricultural Statistics Service |
|
The
number of farms in North Dakota has declined every year since 1936,
from 86,000 to 31,000 in 1998.
|
