News

Farmers encouraged to think ahead for potential coronavirus impacts

The spread of coronavirus in Europe is causing uncertainty for ag production and prices impacting US farmers.

Sam Taylor is Vice President of Farm Inputs for Rabobank. He tells Brownfield farmers need to choose trusted sources and stay up to date on the coronavirus outbreak.

“This is an unprecedented situation. The easy comparison is towards SARS back in 2003 and 2004, but China was 4% of global GDP then and they are now about 20% of GDP, so there is not an adequate comparison.”

He says management decisions will all be based on how long the coronavirus persists and impacts remain. For example, he says farmers may want to get a head start on purchasing inputs.

“With phosphate and ag chem you are probably wise to engage with your local retailer as early as possibly to see if there is some way of mitigating the price rises on the nitrogen and potash there is possibly some downside potential for farmers.”

Brownfield interviewed Taylor at the 2020 Commodity Classic in San Antonio.