FAPRI Warns Of Potential Prolonged Slide In Cash Grain Prices
The annual Baseline Report from the University of Missouri’s Food and Agricultural Policy Research Institute is projecting a decrease in cash prices for the three major grain crops over the next decade, even with USDA forecasting a decline in corn and wheat acreage. Highlights of the report were presented Wednesday at FAPRI’s Abner Womack Missouri Ag Outlook Conference in Columbia. Director Dr Pat Westhoff…
Westhoff says wheat production overseas is contributing to significant downward pressure on that crop.
FAPRI’s baseline projection is calling for wheat prices to tumble over a dollar per bushel for next year’s crop, averaging $6.13. That’s followed by an average price of $5.41 per bushel over the following decade. Soybeans could see a larger drop, falling a $1.95 to $10.73 per bushel this fall, then leveling off at an average of $10.57 per bushel. Corn prices are predicted to fall 39 cents per bushel to an average of $4.39 for the next marketing year, then slide further to an average of $4.08 during the next decade.