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PESSIMISM THROWS A WET BLANKET ON WHAT SHOULD BE FOOD HEROES

Producers and the public don’t always agree. But lately, they’re united in their struggle beneath the weight of a heavy, wet blanket of pessimism, leaving them uninspired and lacking hope as the New Year unfolds.

Consider how things have changed since a promising spring and summer. Back then, supply chains were starting to recover, trade and travel had resumed and optimism was in the air. On the farm, record yields were forecast for some commodities. Equipment sales were strong. Farm visits returned and farmers’ markets thrived. 

Producers had come out of the pandemic as heroes, feeding the world with grace and cool heads.

But it’s a different story today. Adverse weather, labour shortages, inflation and of course the Omicron variant have taken a toll on confidence and optimism, on and off the farm. 

For example, in December, a Gallup poll showed that although financial markets were holding steady, Americans feared a stormy horizon. The Gallup Investor Optimism Index, which checked in +39 in the summer, fell to +10 as the year end loomed.

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USDA surprised with higher 2026 U.S. corn yields but it’s early with just over 20% of the U.S. harvest complete. NE, IA and IL corn and soybean yields continue to hold up the national average corn and soybean yields.
U.S. corn crop conditions fell 3% to 54% G-E and NE corn yield goes up 11 bpa with the 2nd wettest to record wet month of September and harvest only 15% complete??????
Some regions in the U.S. had the hottest summer in 140 years while others had record flooding?????
The Black Sea region is worse not better.
Brazilian real rally.
Brazil looks dry into November.
+ CFTC.