Any threat of weather problems this growing season or bullish news on the demand front will likely send the already-high corn and soybean prices even higher. At the same time, inputs prices to grow these crops will also rise.
Farmers are going to need a good marketing adviser to help them manage this turmoil. Or perhaps, says one prominent market adviser, they might need a good psychiatrist.
"We’re heading into unprecedented times with these markets," says Bob Utterback, Farm Journal Economist and president of Utterback Marketing.
Utterback will speak at the National Farm Machinery Show on Wednesday and Thursday this week. His presentation "Marketing Outlook" is in Room 105 of the South Wing B Conference Centeron Wednesday at 2:30 p.m. and Thursday at 10:00 a.m.
Utterback will discuss what the current market outlook is, what the factors are that can influence commodity demand one way or another, and how outside markets stand to change the way corn, soybeans and wheat are prices.