Dropping Wheat and Corn Prices Could Put Pressure on Farm Economy

August 30, 2016 05:30 PM

Low wheat and corn prices are weighing on the farm economy, observed analyst Peter Meyer of the PIRA Energy Group.

“The farm economy is one that really worries me and I wonder who is controlling these bushels,” said Meyer, speaking on AgDay. Will the banker allow some of these farmers who are struggling a little bit at the moment, unfortunately, to carry these bushels forward?”

Meyer observed that it may all depend on the weather, but that farmers are moving out their grain.

Back to news



Spell Check

Canton, ME
9/1/2016 07:13 AM

  Everyone's' a critic. And then we have a few Nostradamus-types out there as well.

Imperial, NE
8/30/2016 11:39 PM

  Talk about a way to keep the economy growing . Give some price support to the farmers and they will buy and spend to keep productive operations . All the people up the food chain benefit.

minot, ND
9/1/2016 09:56 AM

  So you just figured that out?? Humm. We (farmers) knew this was happening about 2 yrs ago. Our family had to get out of the farming business this year. 25 yrs of hard work to get where we are and gone, in 3 yrs of crappy prices and high input cost. We were on the smaller side of farming, about 2000 acres. The bigger ones are finally complaining, but, they have the banker and government in their pocket. It seems to us that they (government) wants to push out the little guy and control how the market is sold and bought. I remember hearing from my father in law, that they were told what to plant and what to do on their own land. I see that happening already. My husband is so happy we got out now, instead of having to sell all the land, that has been in his family for generations. Good luck to who are still in it, and hope you can stay in for the long haul, it looks like it's going to be a long one.


Corn College TV Education Series


Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!


Market Data provided by QTInfo.com
Brought to you by Beyer