Top Producer
According to a recent report from CoBank, an abundance of corn and soybeans has resulted in cheaper basis and bigger carries in futures markets.
Recent WASDE reports had assumed another record Brazilian soybean crop and Argentina returning to normal, but the El Niño weather pattern might have something to say about that.
Regardless of preferences or past assumptions on storage, Shay Foulk encourages growers to run the numbers to see if new or more storage makes sense in their operations.
The debate over immigration continues to be an issue in Washington. However, the Ag Economists’ Monthly Monitor shows economists are still skeptical it’s enough for Congress to act on immigration reform.
On soybeans, Jerry Gulke says the 25 million bushel increase in carryout can easily be wiped out with the current weather issues potential cuts to South American production, plus increased export demand.
“We’re getting strong results. High interest rates and sub-$5 per bushel corn is not affecting land market conditions,” says Jim Rothermich from Iowa Appraisal.
Though inflation is currently high, Indiana ag lender Joe Kessie doesn’t expect a repeat of what he experienced in his early career for three main reasons.
Several factors are leading economists to believe the price of corn will keep ethanol profits steady in the near future.
Bart Fischer, co-director of the Agricultural and Food Policy Center at Texas A&M, spotlights two topics that will be updated in the next farm bill.
