Kelly Smith, Marketing and Commodities Director from the Missouri Farm Bureau, presented an Ag Outlook to members of the Audrain County Farm Bureau on March 23.
During his presentation, Smith first talked about the affects of La Nina. He noted how neutral ENSO conditions and the 18-year cycle may cause some dryness in the southern half of the plains.
The remainder of his presentation included focus points on farm commodity markets, meeting complex demand, and world currency fluctuations.
Price projections show wheat’s September-October futures being low of 3.85-4.00 if trend line yield is 46-48 or better.
A trend line for corn of 167-170) or better could have futures low in November for corn at 2.85-3.00.
Soybeans, with a trend line of 46.5-47.5 or better could have futures low in October of 7.00-7.20.
A slide near the end of Smith’s presentation showed a line graph with the net farm income being down while the debt-to-assets are remaining historically low.
The event was sponsored by Audrain County Farm Bureau and co-sponsored by Mexico Young Farmers.