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Monday, December 28, 2015

The Good and Bad of 2016 Grain Prices - Crops - News | Agweb.com

The Good and Bad of 2016 Grain Prices - Crops - News | Agweb.com: With the highest world corn and soybean stocks in more than a decade, many farmers remain skeptical a rebound in prices for 2016 is likely. A strong dollar also creates problems for farmers hoping to move grain this winter. That’s because it lowers foreign countries’ buying power and makes foreign grain more competitively priced, according to Purdue ag economist Chris Hurt.

“China’s currency has lost 4% of its buying power in the U.S. over the past year,” he notes in the December 2015 Purdue Agricultural Economics Report. “More dramatically, Japan’s buying power has dropped 12% and the Korean currency has dropped 15% in the past year.”