As we step into another month of the global spread of coronavirus, or COVID-19, we are finding ourselves talking more about the growing uncertainty around commodity prices and what that means for the agriculture industry.
It’s no secret that agricultural commodity prices continue to remain on a multi-year low. Unlike other years, crop outlooks look good but, thanks to the virus than from other issues, the demand for that supply is in question. COVID-19 has left the US and many other economies across the world in shambles and with an uncertain future. Pro Ag noted that commodity prices are now the lowest that they have been in about 20 years collectively.
While a lot of the industry may look bleak, there is one shining star in the industry. Wheat. Coming in at the bottom third of historical prices, wheat is setting a higher price than in the previous three years.
Regardless of what is to come, Bogle LTD remains committed to supporting American agriculture and working hard to ensure that Americans, especially those in our backyard, are fed.