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University of Illinois professor Mike Hutjens reports dairy farmers face corn prices that rose from $3 to over $6 a bushel and soybean meal up $100 a ton. He cites 2020 drought yield losses, expanded exports, a compromised Brazilian crop and ethanol plant restarts as drivers.
Higher corn and meal costs squeeze feed budgets, and the stated drivers suggest elevated prices remain supported by tight supply and strong demand.
hoards.comMike Hutjens, University of IllinoisJun 10, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
