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Corn seems to be a good leading indicator here[1]. Cash bids were $4 in 2019, $5 in 2020, $6 in 2021, $7 at the start of 2022, $9 when the war in Ukraine broke
by randomdata 4y ago
Corn seems to be a good leading indicator here[1]. Cash bids were $4 in 2019, $5 in 2020, $6 in 2021, $7 at the start of 2022, $9 when the war in Ukraine broke out, down to $8 in June, and now at $7.50 where it has remained stable at since the beginning of July. Which suggests that things are indeed slowing.
[1] Which likely ends up being a proxy for oil, but as a farmer I watch food commodities much more closely.
- maerF0x0 4y agoHow much corn are you getting for $9?
- h2odragon 4y ago1 bushel
- deleted 4y ago[deleted]
- pc86 4y agoThe same amount you were getting for $4 three years ago.
- lotsofpulp 4y agoIs it the same quality?
- missedthecue 4y agoYes
- randomdata 4y agoYes, these are commodity prices.
- trillic 4y ago1 bushel, approximately 56 pounds.
- lettergram 4y agoThe issue has to do with the harvest coming up. The next harvest will come from fields with less fertilizer and higher fuel prices. We can expect corn prices in the fall jumping significantly. Next year will even be worse, we are using a fuel reserves now and fertilizer will still be an issue (unless peace is made with Russia). I’m expecting a significant increase in the next 2-3 months then again in 15-16 months.
- vegardx 4y ago
- politician 4y agoHe's probably not a Russian troll (see for yourself). I think your comment would've stood by itself without dressing him down. Something to consider.
- vegardx 4y agoGood point. I'll do better in the future.
- seti0Cha 4y agoYour post violates HN posting guidelines. We can have a better conversation if you engage with people's points rather than speculate about why they said them.
- lettergram 4y agoPretty sure we’re just supposed to flag stuff; not comment on breaking guidelines. I appreciate the comment though :) I often stay comments that unintentionally trigger particular personalities. That said, HN generally tends to be one of the more open areas on the internet to discuss facts and opinions.
- rhexs 4y agoAnyone who I disagree with is fascis…oh a Russian troll now. Got it.
- mediaman 4y agoPlastic is showing similar trends. $0.45 prior to Covid, peaked at $1.35/lb, and is now back down to 0.75-0.80/lb. This drives a lot of consumer inflation because of packaging. International freight, also. Ningbo-LA ran from $3,500 pre-Covid up to $22k last August/September, now down to around $9k. Overall, still up a lot compared to 2019, but substantial drops in many commodities compared to peak.
- cbm-vic-20 4y agoAnecdotally, corn has the supermarket has been really expensive this year compared to the past few years. Like 3x the usual price.