Will 2016 be another record year for crop prices?
By Denise Faguy, Farms.com
In every growing season the weather plays a major role, 2016 is no exception. The temperature and crops on your farm may be just fine, but farmers know the price of corn and soybeans is often driven by crop conditions in other parts of the country and the world.
A number of weather services are forecasting above normal temperatures in key US growing areas and below normal rainfall. Missouri farmers have already reported seeing stress in corn leaves.
The best way for a farmer to buffer against the dramatic price fluctuations often seen in commodities such as corn and soybeans, is to book the price of their crop at the peak of a market fluctuation. Some farmers are looking to experts for help to interpret the market in 2016.
Many experts feel that despite the unusual June weather, yields will not be affected. The Farms.com Risk Management team is heading out to visit a number of farms throughout the US Midwest to see for themselves.
The tour starts Saturday, June 25th and continues until July 11th, 2016. “The Farms.com US Corn Belt Crop Tour is unlike any other U.S. Midwest crop tour as its main objective is not to count corn kernels in August, but to perform an early crop assessment to anticipate the size of the U.S. corn and soybean crops,” says Moe Agostino, Chief Commodity Strategist, Farms.com Risk Management. “This, in turn, should help farmers anticipate where prices are headed.”
Farmers can follow Moe as he travels Michigan, Ohio, Indiana, Illinois, Missouri, Iowa, Kansas, Nebraska, South Dakota, North Dakota, Minnesota, and Wisconsin and provides his insights on tour by visiting riskmanagment.farms.com/tour or following on twitter by using the hashtag #cornbelt16
Volunteer to be a farmer interviewed for the crop tour!
Follow the team’s progress throughout the mid-west for daily updates!
Follow the team on the tour, download the Crop Tour Mobile app.
Farmers from Ontario -- A wrap up event will be held at the Penta Plant in Glencoe, Ontario, on July 14th. More than 300 members of the farming community are expected to attend. Register Now!