Despite being lower for the week, the grain markets all closed higher on Friday and might have been putting in risk premium says Jerry Gulke, president of the Gulke Group.
$3 Corn? That Could be the New Reality Without a Weather Problem This Year
As drought deteriorates across the U.S., it's a positive signal for growing a big crop in 2024. And analysts say if weather continues to fuel this year's crop, December corn futures could fall into the $3 range by fall.
There's now a 60% chance La Niña will develop between June and August and an 85% chance it's in effect by November 2024 to January 2025, according to NOAA.
Unrelenting inflation continues to weigh down the U.S. economy and agriculture. Still, CoBank says it believes the Fed will stick with its decision to cut interest rates three times in 2024.
Marc and Meagan Kaiser are building their future — finding a way to be part of their families' corn and soybean operation and soil testing lab while starting a precision ag business and being active in farm groups.