“The report for the month of May was higher than most trade analysts and most stock market analysts had expected and that's taken the stock market down – at one point almost 800 points,” Gulke says. “This inflation thing probably will affect us more down the road. We need to watch very closely that our demand holds up.”
$8 Cash Corn And $18 Soybeans Sales? It's Reality And Means All Bets Are Off For Feed Prices Now
Farmers have reported selling old-crop soybeans for $18, and cash corn sits above $8 in some areas. The prices are proving to be painful for pork producers sourcing feed, and it's possible those prices could climb even higher.
U.S. estimates show global wheat levels are stockpiled at 33% of annual consumption. Gro Intelligence says the world’s numerous economic crises prove government estimates are “not adding up."
Fertilizer Prices Have Dropped, Should You Book 2023 Needs?
“We are half the price we were back in late March,” says Josh Linville with StoneX. “Everything is trending lower. Just from that simple perspective you're like, how can this not be a time to buy?”
For Farmers National Company, the number of auctions have increased 65% versus 2021. The number of acres sold via auctions was up 106%, and the dollar value of auction sales was up 130% during the same time.
Dermot Hayes with Iowa State and Joe Kerns and Steve Meyer with Partners for Production Agriculture by EverAg talk markets this weekend on U.S. Farm Report.
