Source: Darrell Good, FARM DOC DAILY, UNIV OF ILLINOIS, 12/28/16

Crop prices remain well below the record levels of 2010 through 2013 as U.S. and world supplies remain abundant, even with a shortfall in South American corn and soybean production in 2016, Commodity demand also continues to suffer from prolonged slow economic growth in much of the world. The lower prices are expected to persist until there is a shortfall in production in a major producing region or until U.S. and world economic growth accelerates. Following is a discussion of price prospects assuming a favorable 2017 growing season.

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