Ag economist optimistic about the future

Ag economist and farmer Brent Gloy of Grant thinks the downturn in the ag economy may soon be behind us. 

Gloy spoke to people attending the open house for ASD Enterprises, a Channel seed dealer, in Imperial Tuesday, Aug. 15.

Gloy sees some positive things happening and feels the roller coaster ride farmers have been on the last 10 years is closer to stabilizing. 

He noted farmers have never experienced the likes of high commodity prices they saw from 2006 to 2013. “There’s been no period like it in the last 100 years,” Gloy said, because he’s gone back and researched it. 

But the boom time also increased land prices and cash  rents on land, as well as the price for other inputs such as seed and fertilizer that followed along. 

As commodity prices have dropped, so have these other costs, he said, bringing down the break even point for crop production. 

With exceptional corn and soybean yields this year, along with a bump in commodity prices, farmers could actually make a little money this year, he predicted. 

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