USA Farm Projections
Tommy Grisafi, a Chicago Board of Trade stock broker discussed grain markets recently. Grisafi says farmers should watch seven things this year when pricing crops. First, watch China and the trade tariffs. A federal judge ruled that all tariff money collected had to be paid back but that could take years of litigation. Second, is the weather in South America. Watch for an indication or scare of a South American drought which could push crop prices up short term. Drought scares are an opportunity to sell. The same goes for USA drought which are more common and are still lingering throughout the country. Third, watch the corn export demand which has been higher. Grisafi says to market your crops when you can lock in a profit and do not wait too long. Fourth, get crop insurance. With todays high crop inputs for fertilizer (20-25% higher), machinery (25-40% higher), pesticides, and Labor; farmers are in a squeeze between lower crop prices and higher input costs. Fourth, watch y...