Crop, livestock prices will see more pressure in 2017
Farm incomes will likely continue to slump next year with grain prices remaining at or near their lowest levels in about a decade, according to agricultural economists at Purdue University.
U.S. agricultural exports are expected to recover slightly after two years of decline, but not nearly enough to offset increasing global grain stocks, says Chris Hurt, editor of the Purdue Agricultural Economics Report.
Corn prices are expected to average $3.45 per bushel in 2017, down from $3.85 per bushel in 2015. Soybean prices are expected to fare better, hovering around $9.50 to $10 per bushel primarily because of lower production last season in South America and relatively stable global demand....
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