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Market rally helps some farmers, too late for others
2020 has provided low commodity prices for farmers until recent rallies. Since August the price for corn gained more than a dollar and soybeans have gained nearly $3.
Carroll County, Missouri farmer Kyle Durham said the recent strength in the market will help farmers recovery losses from the COVID-19 pandemic.
“There have been great improvements in the price that farmers are receiving for soybeans for sure and corn has moved along with that,” he said. “So, we certainly cheer that as we try to recoup losses that we’ve seen during the pandemic.”
But Saline and Cooper county, Missouri farmer Isaac Christy tells Brownfield for many farmers, the rally came too late.
“The recent runup I haven’t really taken place in because I’ve pricing it so aggressively along the way and I think that’s the norm,” Christy said. “I talk to people and I’m like ‘man, I so screwed up my marketing plan’ and they’re like ‘yeah, I did too.”
And Christy said while the market is gaining support, it is still fragile.
“We’re still kind of sitting here scratching our heads, right?” he said. “I mean, yeah we’ve had Chinese demand, but ethanol is still not back where it needs to be for corn and that rug could be pulled out any day if we do some sort of national shut-down.”
