Economist warns not to be too cautious marketing grain
A leading ag economist says farmers shouldn’t be too cautious marketing grain.
The head of the University of Missouri’s Food and Agricultural Policy Institute, Pat Westhoff, says while many farmers have already marketed their grain, those who haven’t shouldn’t necessarily hold out hoping for higher prices.
“I just caution people not to miss an opportunity when it exists,” he said. “So, don’t hold onto every single last bit that you have.”
Westhoff tells Brownfield grain markets are entering 2021 in a more ‘exciting’ place than anticipated.
“With a shorter U.S. crop, concerns about the South American crop and obviously strong purchases by China and other countries, have definitely made the markets much tighter and much more exciting than we had anticipated,” Westhoff said.
And he said any surprises in the upcoming USDA’s supply and demand report could be a market mover.