AGRICULTURE: Corn, soy prices down; food purchasing up

The Times Board of Economists - update by Tim Stoner, Porter County farmer
2014-02-02T00:00:00Z 2014-02-02T00:05:53Z AGRICULTURE: Corn, soy prices down; food purchasing upVanessa Renderman vanessa.renderman@nwi.com, (219) 933-3244 nwitimes.com

In agriculture, trends are key. Farmers keep an eye on them to make informed decisions about what to plant, how to plant it, how much to spend and other factors, Porter County farmer Tim Stoner said.

"We can't predict the future, but we can prepare for it," he said.

Stoner's predictions on the next six months include some unknowns.

"I'd say the trends in the commodities sector, as far as corn soybeans and wheat, tend to be a little lower, which means there will be less income," he said. "However, our inputs to raise those and produce those commodities are also lower. So, what's that trend? It's a little unknown."

The livestock sector is at an all-time high, he said.

"There's a lot of opportunities right now to buy your corn, your soy at a much lower price and feed your livestock," Stoner said.

The industry is offering a lot of good opportunities, he said.

"There are some good opportunities out there, especially as livestock is more profitable," Stoner said.

Another trend is a global increase in food demand.

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