U.S. grain prices and crop demand for 2017-18 will likely show no major changes, according to Dr. Keith Coble, former chief economist for Senate Agriculture Committee Republicans and head of the agricultural economics department at Mississippi State University.
Coble spoke to workshop attendees during the American Farm Bureau Federation’s 2018 Annual Convention & IDEAg Trade Show about global crop trends and the U.S. farm policy outlook for the upcoming year.
Trends for 2018 will be similar to 2017, unless a major disruption occurs, such as weather or foreign market changes, Coble said.
“We are really not seeing anything that is significantly moving the markets up or down in the short term,” said Coble. “Markets are going to see mostly sideways movement. Cotton is the most promising of the commodities.
Coble addressed the outlooks on global and U.S. markets separately for each of the major crop markets – corn, soybeans, wheat, cotton and rice – and predicted that not much change will occur.