Pre-harvest marketing opportunities could be few and far between

An extension grain market economist is concerned there won’t be many pre-harvest marketing opportunities for corn and soybean growers.

Ed Usset with the University of Minnesota tells Brownfield current prices for fall delivery are below cost of production for most farmers.

“We’re not at our lows, but it’s not as fun as it was just three to four weeks ago. Let’s look for another rally, okay. And when that rally comes, please get something done.”

He says crop problems in the U.S. could spark a rally.

“Hot and dry, typical things that drive a rally in the summer.”

Usset says he’s also watching Russia, the world’s largest wheat exporter, because for the first time in a decade the country is having production issues with its crop. 

Brownfield interviewed Usset during the Iowa Farm Bureau Economic Summit in Ankeny, Iowa Friday.

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