Eight Midwest producers recently told Reuters the time has come to empty their bins.
Many producers had been banking on weather or geopolitical rallies, but they never materialized, and that has had a ripple effect on the ag economy. Grain handlers like Bunge and ADM recently posted losses in their quarterly reports, as producers held out hope. Even agribusinesses like Corteva are feeling the fallout, with lower prices leading to some farmers using fewer chemicals.
Producers this year are expected to experience the largest year-to-year drop in income, and current prices are expected to complicate that decline.
