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FAPRI-MU raises corn and soybean prices
Projected prices for the 2015 through 2018 U.S. corn and soybean crops have been raised slightly by the University of Missouri’s Food and Agriculture Policy Research Institute, FAPRI-MU.
FAPRI’s February report says the increase is based, in part, on “new assessments of the outlook for livestock and biofuel markets.”
Projected corn prices increase to $3.87 per bushel for this year’s upcoming harvest – reaching $4.09 per bushel for the 2018 crop, caused by reduced production.
Soybean prices this fall are projected to fall but not as sharply as in FAPRI’s January report. The price is seen at $9.27 a bushel in 2015/16, rebounding to $10.30 per bushel by 2018/19. Large projected U.S. and global supplies are seen putting on that downward pressure.
FAPRI sees wheat prices falling to $5.17 a bushel for 2015/16 and staying below $5.50 through 2017/18 because of strong competition in global grain markets.
Tags: Biofuels, Consumer Issues, Corn, Farm Income/Prices, Livestock, Missouri, Soybeans, Wheat
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