In the past month, commodity prices experienced a bit of a rebound. Nevertheless, ag economists think net farm income could fall more than expected — and tighter margins often mean farmers scale back on certain purchases. From using generic products to slowing technology upgrades, here's where ag economists think farmers will look to save.

There have been 469 tornadoes, 3,475 severe wind events and 1,640 severe hail events reported in the U.S. during the month of May. Meterologists say to expect more as the country transitions to a La Niña.

Historical trends suggest selling some corn over the next six weeks might be a prudent risk management strategy, especially if there's a rally. While past performance is never indicative of futures results, there's a 75% chance that making a trade on any day in May or June is better than waiting to price corn in the fall.