Farmers say rising dollar and falling prices biggest threat to crops
They said this year’s crop loss has already exceeded the $1.2 billion forecast last year — and will top $3 billion for 2017 — despite a sharp rise in costs due to stronger corn and soybean prices and warmer weather.
“This is a very challenging year for farmers in the corn and soybean sector,” said Tom Beierlein, president of the U.S. Potato Growers Association. He said most farmers “are trying to manage the stress of the situation,” but said the price growth in the second half of the year appears to be a challenge to farmers.
The growing crop loss, coupled with other factors, including a weaker loonie and a lo인터넷카지노w outlook for c수원출장샵rude oil prices, has already pushed corn prices lower by as much as 40 cents from their all-time high of $96.50 a bushel just a week ago.
“The crop loss is havin룰렛g an impact on farmers right now,” said John Niederman, president of the Corn Council, a trade group. He urged Congress to consider a tax cut to support rural farmers, especially those at the lower end of the income scale. “It’s critical to the health of our agricultural economy.”
The yield of a corn seedling in Indiana, a key U.S. corn grower, jumped to 3.27 percent last week from 2.47 percent a week earlier, the biggest jump since 2007, according to the National Corn Growers Association.
A record crop of 800,000 pounds last year, but still only a quarter of what they were in 2007, created some uncertainty as investors began to worry about the economy, said Chris Chard, president of the New Mexico Potato Growers Association.
The U.S. Department of Agriculture said last week it expects 2017 to be another bumper year for corn. “We look forward to further strengthening corn production in 2017 as we continue to support crop and supply safety as our focus shifts from corn production to the agricultural products economy,” said spokesman Jim McCutcheon.