15.84 a bushel for soybeans and the drought affected production. 13.64 was the price a year ago. Corn is about 2 dollars a bushel higher too but many farmers aren’t selling due to holding it back as cattle feed.
I don’t see how this can not send beef and pork prices higher but I don’t farm so who knows.
Chicken and turkeys eat soy meal and cracked corn and some local turkey growers her in Nebraska shut down a year ago because feed was just to high to make a profit.
I was driving through Arkansas on I-40 the other day and listening to a farming oriented morning show on the radio and they said the crop this year was going to be on par with the 2004 crop which was record setting. They said it was due to cooler temps and increased precip late in the season as well as improved irrigation techniques, which offset the earlier drought conditions. I don’t farm either but I am a bacon lover and this factoid lodged in my mind because I realized instantly that it had bacon-relevance. But maybe this was a fairly localized thing. Maybe soybeans in the rest of the country didn’t do as well.