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Farms.com Home  › Expert Commentary

Tightening The Belt And Smarter Marketing Could Make The Difference For Farmers In 2016

May 04, 2016
By Bob Young
American Farm Bureau’s Chief Economist
 
American farmers may be too good at what they do, says Bob Young, American Farm Bureau’s chief economist.
 
Above average yields over the last few years have driven down commodity prices, and combined with decreased growth in domestic demand and exports, Young says farmers are now teetering on the brink of a real crisis. 
 
“Agriculture has a long, long history of basically producing the profit out of any situation, and here we are again,? he says. “If commodity prices stay where they are and we do not become very shrewd marketers, we could be facing a challenge in 2017.”
 
Young says corn and cotton stocks entering the market from China are adding to an already abundant world supply.
 
“I don’t think anybody knows how many corn stocks or how many cotton stocks the Chinese are sitting on at this stage of the game,” he says. “So the challenge now becomes as those bleed out - and you want them to bleed out - that’s just that much additional supply that we’ve got to suck up for as long as it takes to get that supply sucked up.”
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