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On a more hopeful note, some industry analysts believe the number has reached its peak and will start to move down this summer. Certainly, some trade deals that would open markets for U.S. ag products would help.
The House and Senate reconciliation bills both propose major changes to the 45Z Clean Fuel Production Tax Credit, aiming to extend and reshape federal support for biofuels.
Farmland experts say it’s a story of supply and demand, but increasing farmer debt level adds to the bigger picture.
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Grain markets are sliding lower to start the last full week of trade. Attention turns to next week’s quarterly reports where volatility has been a theme in recent years.