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The Farm Journal September Ag Economists’ Monthly Monitor makes it clear: Working capital is thinning, export markets are shaky and long-term crop margins could get ugly. But for now, one thing is still keeping its strength: Americans’ appetite for beef.
Markets on the Move: Corn breakdown, Crude oil & Silver breakout Ft. Marlin Bohling & Matt Bresnahan
Marlin Bohling & Matt Bresnahan bring you another episode of Markets on the Move to close out the week. There was a bit of technical damage done to the December corn chart. Meanwhile, geopolitical risk propelled crude oil higher and inflation data pushed silver to 14-year highs.
There’s light at the end of the tunnel, but we might not see it completely turn around for two to three years,” says Grant Gardner, University of Kentucky ag economist.
Farm Journal’s September Ag Economists’ Monthly Monitor found nearly half of the ag economists surveyed say the U.S. ag economy is worse off than a month ago and will remain depressed or even worsen over the next 12 months.
Agriculture Secretary Rollins previously said USDA is examining high fertilizer costs and exploring options for farmer relief.
NCBA’s Colin Woodall says the “significant plan to help rebuild the American cattle supply” does not currently include a direct payment but rather the possibility of addressing regulatory burdens.