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Is 2017 A Turnaround Year For Farmers

DanEconomy, Industry News Release

turnaround year
At least one company is predicting 2017 to be something of a turnaround year for farmers. An Ag Web Dot Com article says 2017 could see a “global supply pullback” that may give farmers some relief from lower commodity prices. MetLife Agricultural Finance says, “We expect a recovery in 2017 as global consumption rises and corn and soybean supplies decline.” MetLife does caution that the strength of the U.S. dollar could put a crimp in those predictions as U.S. ag exports could face an obstacle from a strong U.S. dollar that’s at it’s highest level in 14 years. MetLife, a major farm mortgage lender, feels that as farmers cut acreage and supplies drop, prices could rise. U.S. farmers are predicted to cut corn acres by 3.5 percent next year to 91 million acres. MetLife predicts other major corn-producing countries like Brazil and the European Union will likely cut back on corn acres. MetLife also predicts soybean acreage to remain flat next year. The company says huge supplies and low prices are driving demand, expected to rise 4.4 percent.

From the National Association of Farm Broadcasting news service.