Secretary of Agriculture Bill Northey says recovery for farmers continues after a few years of low crop prices have hurt the bottom line of the agriculture economy in the state.
Northey is hearing there’s statewide potential for another record corn and soybean crop, which he says may drive the price lower, but will overall help producers.
“A big crop helps, so if you multiply your price times 225 bushels versus 175 bushels that helps,” he says.
He says the market has also been boosted by issues in Brazil, which has led to the potential for increased exports as well.
“We certainly need to continue to grow the demand out there,” Northey tells KNIA/KRLS. “So hopefully some more ethanol production and some opportunity to use some corn that way or biodiesel production for soybeans, we need to grow our livestock industry.
“These things aren’t fast–they don’t happen overnight, but I guess probably the thing that happens overnight that makes prices better is some kind of weather problem somewhere else.”