Strength of US dollar could impact marketing decisions for Nebraska farmer
A Nebraska farmer says he’s closely watching the strength of the US dollar and what that means for his marketing plans.
Jay Reiners tells Brownfield he doesn’t expect commodity prices to push higher anytime soon. “Unless the government surprises us with something with a dramatic yield cut, but I just don’t see them doing it. I think the combination of the low Mississippi River levels right now as far as export business and then the strength of the US dollar – if you come close to profit, I think you better be locking that in.”
He says right now US commodities may not be as affordable as others. “Like Brazil and the real, it’s so much devalued against the dollar that other countries can purchase corn or soybeans at a much cheaper price than what they can purchase us because of the strength of the dollar.”
Reiners says it’s becoming more challenging to create crop budgets due to the price of many inputs.