USDA is projecting a continued downturn in commodity prices for 2024.
Chief economist Seth Meyer tells Brownfield the slide began more than a year ago.
“Off of those peaks in 2022. And generally speaking, the expectation is that for the 2024/2025 crop season that we’ll see yet lower prices for most commodities. There are some exceptions, cotton being one of them.”
He says corn farmers are averaging around $4.80 for the crop they’re marketing now versus $4.40 for the coming year.
