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Spotlight on Economics: Are Low Crop Prices Here to Stay?

Corn
(Photo courtesy of Morgue File)
A farmer recently asked a very simple but extremely relevant question at a market outlook meeting: “Will I ever see high grain prices again in my lifetime?”

The farmer asking this question started his farming career in the early 1980s and remembers the low commodity prices and tough financial conditions in agriculture at the time. The fear was that the grain markets were going to return to many years of low prices.

As usual, simple questions often have complicated answers. My short answer to the question was, “Yes, it is possible to see high grain prices again, but it likely will not happen this year.”

NDSU Extension Service Crops Economist shares his predictions on 2015 crop prices.

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