Each of the major row crop commodities appears to be seeking a bottom to their months-long decline as farmers prepare for another year.
If those commodities can find a floor along with other positive economic developments, farmers could see better prices later in 2016 or 2017, according to Dr. Bobby Coats, professor and agricultural economist with the University of Arkansas Systems Division of Agriculture.
Dr. Coats, who also moderates the Division of Agriculture's Food and Agribusiness Webinar Series, gave the state outlook report for Arkansas during those presentations at the USA Rice Outlook Conference in New Orleans.
Depending on how the commodity markets fare over the next few months, he says, Arkansas growers could increase their long grain harvested acres from 2015’s 1.055 million to 1.266 million, given the current outlook for low prices for all commodities across the board.
“That would give Arkansas production of 95 million hundredweight, which would be the fifth largest long grain crop on record for the state,” says Coats. “Farmers could harvest 179,000 acres of medium grain. Obviously, producers should study the demand for medium grain in our part of the world before planting.”
For more information on presentations at the USA Rice Outlook Conference, visit http://usarice.com/about/meetings/meeting-registration/2015-presentations.