University of Missouri’s Food and Agriculture Policy Research Institute is forecasting lower U.S. farm income this year.
FAPRI Director Pat Westhoff says if farmers raise an average crop, commodity prices could be pressured.
“We’re talking corn prices in the low $5 range and soybean prices in the $12 range for the crops harvested this fall. It’s all contingent on lots of things happening between now and then. If we have a weather event, that could change this outlook.”
FAPRI is expecting a mixed outlook for fertilizer, fuel and feed prices.