FBN Chief Economist Kevin McNew, Ph.D. forecasts that international demand and U.S. drought could push grain prices to highest marks in years
SAN CARLOS, Calif. & CHICAGO–(BUSINESS WIRE)–FBN, the global farmer-to-farmer network, announced today the release of its Drought Report, analyzing the implications of the ongoing dry spell for American farmers as the 2021 growing season kicks off.
With global grain supplies razor thin and China buying record large volumes to rebuild their hog supply, grain prices have reached their highest mark in seven years. Now FBN‘s report indicates Mother Nature may push prices even higher, as the current drought across the American West and Midwest is one of the most significant in years, according to FBN Chief Economist Kevin McNew.
The Drought Report details:
- Why this year’s weather is especially hard to predict
- How drought could beget more drought across the West and Midwest
- What steps farmers can take to improve their bottom line, given the FBN latest intelligence
“We are committed to arming farmers with the expertise and up-to-date intelligence they need to best run their operations,” said Kevin McNew, Chief Economist, Farmers Business Network. “This latest report provides the insights and information growers need to mitigate risk for the 2021 growing season.”
To read more, download the FBN Drought Report here.
About FBN:
Farmer’s Business Network, Inc. is an independent ag tech platform and farmer-to-farmer network with a mission to power the prosperity of family farmers around the world, while working towards a sustainable future. Its Farmers First® promise has attracted over 25,000 members to the network with a common goal of maximizing their farm’s profit potential. FBN has set out to redefine value and convenience for farmers by helping reduce the cost of production and maximize the value of their crops.
The FBN network has grown to cover more than 70 million acres of member farms in the U.S., Canada, and Australia. Blending the best of Midwestern agricultural roots and Silicon Valley technology, the company has over 700 personnel and offices in San Carlos, Calif., Chicago, Ill., Sioux Falls, S.D., a Canadian headquarters in High River, Alberta, and an Australian headquarters in Perth.
To learn more, visit: www.fbn.com.
Contacts
Keith Chapman, keith@chappublicrelations.com