COLUMBUS, Ohio — Farmers may be in for a difficult few years, according to one economist.
“We’re really in much more of a weaker cycle, particularly in the crops,” said Matt Roberts.
Roberts is an agriculture consultant and farm business coach.
He said prices for crops significantly decreased throughout the past two years.
“I think we are setting up for a few really hard years for the corn, soybean and wheat producers,” Roberts said.
Vance said the reasons for this include supply and demand.
“We are dealing with some really challenging situations here in Ohio in terms of the drought, so we’re going to be concerned about the supply side, but by and large we’ve done a pretty good job for many many years for producing more than enough supply of corn, beans, wheat and that sort of thing, but on the demand side we’ve had a lot of disruptions,” agriculture expert Andy Vance said.
Vance said trade was disrupted during the pandemic and during the U.S. trade war with China.
If you have an idea for the Ag Report, a question for Chuck and Andy or you’d like to send a photo of your farm and the work you do, email charles.ringwalt@charter.com.