Five Year Corn and Soybean Price Projections

October 20, 2017 11:00 AM
 
Five Year Corn and Soybean Price Projections

Commodity prices have been challenging, but according to recent projections they likely won’t get any worse. University of Illinois brought together USDA Agricultural Outlook, Congressional Budget Office, FAPRI, WASDE and CME futures to give farmers an idea of where prices might be headed compared to 2017’s projected market year average.

From 2014 to 2016 marketing years, corn averaged near $3.50 per bu. and soybean averaged near $9.50 per bu. The next five years of projections suggest those types of price levels will continue into the near future, according to University of Illinois commentary on the projections. “History indicates actual prices can vary considerably from forecasted prices.”

However, University of Illinois economists suggest that even though prices can vary from forecast it’s best to make budget decision based on mid-$3 range for corn and mid-$9 range for soybeans. Be on the lookout for market moving weather or trade event for possible opportunity or price drop.

 

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Comments

 
Spell Check

Douglas Street
Newton, KS
10/20/2017 04:31 PM
 

  Is this info established because of free market economics, the law of supply and demand? Or is it more attributed to taxpayer funded LDP, keeping a FLOOR under an otherwise bloated market?

 
 
gerard eugene lowrance
osage city, KS
10/20/2017 04:57 PM
 

  What rocket scientist came up this revelation??? Heck no prices won't get any worse or all farmers will go broke for real. IMHO

 
 
Jo
Washington, IA
10/21/2017 05:43 AM
 

  Why would prices go up. It's called overproduction. Farmers are their own worst enemy. If everyone would not plant 10% of their acres maybe prices would move, but that will never happen. Seed companies charge huge prices for new technology that produces twice as many bushels per acre. Well at least they are making money. While we are hauling more grain drying more grain and building storage for it cuz we can't afford to sell at these prices. I think sucker applies. Then as a whole we vote for a guy that said before hand he was going to ruin our trade and followed thru. Unfortunately we all suffer together for that one. Don't look to him for saving maybe he's just trying to drive down the price of ag land so he can buy it up and build golden hotels on it??

 
 

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