Will Commodity Prices Remain Low in 2018?

USDA released some preliminary projections on what they expect to see from commodity prices in 2018 and it’s not great news.

Chief Economist Rob Johannson said he expects 2018 to be more of the same, similar to 2017.

“Corn; coming in at $3.20 per bushel. That’s down a little bit from the 2016-2017 crop year price.”

It’s actually down 16 cents to the prior year.

Johannson said there is some positive news when it comes to wheat which was $3.89 per bushel.

“We expect that to rebound up to about $4.60 per bushel but still that’s relatively low compared cost of production.”

Johannson is also projecting drops in prices for soybeans and barley.