FBN Research Issues 2023 Global Grain Outlook: 2023 Conditions Support Historically High Prices
And while 2023 may bring modest pullbacks in some farm input costs, expect overall farm expenses to be on par with 2022.
- And while 2023 may bring modest pullbacks in some farm input costs, expect overall farm expenses to be on par with 2022.
- “The current inflationary environment in agriculture is not likely to correct soon,” says FBN Chief Economist and Head of FBN Research Kevin McNew.
- Since the early days of the COVID pandemic, U.S. grain markets have soared, nearly doubling in the past two years.
- While prices at the end of 2022 are below the highs set in the spring, conditions heading into 2023 should support, if not further elevate prices more.