Record crop prices to be tempered by high input costs
Grain and soybeans prices will smash records in 2022, according to an outlook produced by Farmers Business Network (FBN), but near-record input costs will limit profits.
The outlook, published March 10 during the 2022 Commodity Classic, suggests corn futures are likely to trade above $8, especially if the Russia-Ukraine conflict continues.
Similarly, analysts expect soybean futures prices to remain strong and push higher, holding in the $18.25 range.
“Even before the Russia-Ukraine war, the outlook was supportive for higher corn prices,” outlook authors noted. “But this added catalyst likely puts corn on a path to fresh all-time highs. ... Expectations...
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