A large harvest and good demand for commodities means low prices will hold steady.
?When we look at this year?s crop, we?re looking at record soybean crop and the second largest corn crop we?ve ever produced and there is whole lot of demand for that crop,? ISU Extension grain marketing specialist Dr. Chad Hart says.
It?s the same story we?ve seen for the last few years. A lot of farmers across the state were surprised by the yields they got this year with the lack of rain in some areas. Hart says it speaks to genetics.
?It also speaks to rains we did get. They were very timely. We started the year with a great amount of soil moisture that pulled us through those dry periods in late July and early August. A lot of late season rains also helped kick those yields out,? Hart adds.
He?s been getting a lot of questions at meetings he?s spoken at or attended.
?Do we expect prices to go lower given how big these crops are? Luckily, no we don?t. We?re seeing great demand for our crop holding prices where they are at. We?re not getting any better but not getting any worse either,? Hart says.
Hart sees prices going higher in the spring.
?That is what a lot of folks putting their grain in storage are hoping for and that?s what the markets seem to be indicating.?
