By Jamie Martin
According to recent reports, U.S. crop prices are projected to remain near pre-2020 levels for the coming years. A University of Missouri think tank has forecast that corn, soybean, and wheat prices will decline and stay close to 2019 and 2020 levels.
Over the next five years, corn prices are expected to average $4.12 per bushel, soybeans $9.98 per bushel, and wheat $5.70 per bushel.
These projected prices reflect the lowest values for corn and soybeans since the 2019 crop year and the lowest for wheat since 2020. The USDA expects lower commodity prices and rising production costs to reduce net farm income this year, although income remains well above the 10-year average.
With a record soybean harvest and a bumper corn crop anticipated, the USDA has predicted an average price of $4.10 per bushel for corn and $9.99 for soybeans for this season.
Increased global supplies and a strong U.S. dollar are among the factors contributing to these lower prices. The outlook remains steady unless disrupted by new economic, weather, or policy shocks.
While crop prices are expected to stabilize, cattle prices are forecasted to remain strong due to high consumer demand and limited supply. Hog prices are projected to improve by 2026, while poultry production will see modest growth.
Despite fluctuating crop values, livestock markets are expected to perform well into the end of the decade.
Photo Credit: gettyimages-studio2013
Categories: National