Crop Report: Conditions Good, Profits in Question
This summer’s warm and wet weather has been good for crops and bad for crop prices.
“Things are about as bleak as they’ve been in terms of any kind of profitability in several years,” said Gary Luth, who farms near Allerton. “The crop looks good, but there’s not going to be much money in it.”
Soybean prices are below $9 a bushel and corn is in the low $3 range, down from more than $13 and more than $7 in the early 2010s, respectively.
“The higher the (harvest) prediction, the lower the prices. And the entire atmosphere with coronavirus and the trade situation that continues to lag on is a double whammy,” Luth said.
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“Things are about as bleak as they’ve been in terms of any kind of profitability in several years,” said Gary Luth, who farms near Allerton. “The crop looks good, but there’s not going to be much money in it.”
Soybean prices are below $9 a bushel and corn is in the low $3 range, down from more than $13 and more than $7 in the early 2010s, respectively.
“The higher the (harvest) prediction, the lower the prices. And the entire atmosphere with coronavirus and the trade situation that continues to lag on is a double whammy,” Luth said.
Click Here to read more.