Weather market for grains
Another dry growing season could deliver support to the grain markets.
Iowa Farm Bureau farmer education program manager Zach Brummer says widespread drought was expected to help provide a floor for corn prices in 2023.
“What we’re really dealing with is we had record production on the corn side this year despite drought. The water just really shut off in early August, and so it’s kind of interesting as you think about (where prices are at) right now.”
He tells Brownfield some of the drier parts of the Corn Belt have seen soil moisture levels improve this winter.
“So that’s one thing that I’m really keeping my eye on is where are we starting from a planting perspective when we get into this spring.”
And he says the potential return of a La Nina weather pattern could result in another hot, dry summer.
Brummer says Iowa Farm Bureau is hosting a series of meetings to inform producers about what the year ahead looks like, beginning in early February.