The war in Ukraine could lead to the biggest grain supply dislocation since World War I. We are looking at the worst global grain shortage in a hundred years.
The President of AgResource says that even with input costs soaring, U.S. farmers will profit.
“U.S. farmers are looking at about $300 dollars an acre, in terms of corn profitability. On soybeans, $153-54 dollars, and so, we are looking at the marketplace, encouraging U.S. farmers to do their share to plant fence row to fence row and produce as much as they can... We can look at corn futures all the way to 2025, and we’re sitting at or above $5 dollars-- something that has never happened before,” according to Dan Basse.
This week, May and July corn topped $7 dollars, wheat $11, and soybeans $17.
Related:
How producers can navigate through high input costs
Russia to resume Black Sea wheat exports
Sen. Moran on how war in Ukraine is impacting the hunger crisis
The war in Ukraine prompts many questions for U.S. farmers