Drought on the mind
WATSEKA – Any type of weather scare that occurs this year will likely hold more power over the markets since we just don’t have the stocks on hand.
There is a new scare out there and it is not the coronavirus but drought.
“Everybody is saying they are going to have a drought next year and not going to raise a crop,” Merrill Crowley with First Choice Commodities told The Central Illinois Farm Network.
Of course, no one knows what the future holds for the 2021 growing season but there have been rumblings of dry weather patterns moving in.
“People say we want these high prices then sometimes that’s more difficult than if you just have average prices,” Crowley added.
Returns aren’t always as great and in many cases, farmers wait too long for higher prices and keep having bullish thoughts. We only have to look back to the high in 2019 when everyone was planting in the mud and thought prices would go higher.
“The prices always end in places where you don’t expect them to end.”
For more information, Crowley can be reached at First Choice Commodities in Watseka by calling 815-432-2220.