Bumper corn yields and excess supply will continue to pressure prices lower during the first half of 2018, according to an economist.
Dr. Jason Johnson, economist in Stephenville, told attendees at the Blackland Income Growth Conference in Waco recently the three-month weather outlook for grain crops calls for above normal temperatures for January and February and a continuation of the current La Nina pattern typically associated with dry winters in Texas.
“Some combination of forces that deplete the supply overhang will be needed to drive prices higher,” Johnson said. “The good news is we do see a bit of a world production drop off.”
The U.S., China, Brazil and the European Union account for more than 70 percent of the corn produced worldwide.
Through the application of science-based knowledge, AgriLife Extension creates high-quality, relevant continuing education that encourages lasting and effective change.
Learn more about Opportunities to Support Extension.