Prices could surpass last year's

January 24, 2017

 

WATSEKA – Merrill Crowley, owner of Crowley Commodities in Watseka, sees corn and soybeans taking out last year’s highs.

 

“There have been some big numbers come out of South America – Argentina in particular – about the wetness they’ve had and how many acres they lost,” Crowley told The Central Illinois Farm Network this week.

 

If you go far enough south in Argentina, conditions are too dry, according to Crowley. Wheat is finally getting off of its lows starting to make a run at some sort of rally, which should help corn.

 

Crowley sees several positive factors to look for in corn, such as the possibility of less acres which would drive prices higher and some damage in Argentina’s corn crop. Long-range forecasts for the United States show good planting conditions with warmer than normal weather for our area and wetness to the north.

 

“I just feel the farmers are sitting on (corn) and they’re not selling it. You’re going to have to push the price up to get some of this loose,” Crowley said.

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