Farm and Food: New year, not-so-new start [Video]

While January left the old year behind, it didn’t leave behind any of the baggage 2023 saddled American farmers and ranchers with.

The chief worry carried forward was last year’s slumping grain markets, especially soybeans. August 2024 soybean futures skidded from near $14 per bushel in mid-November to under $12.50 per bushel by late January with little sign of slowing.

Similarly, May 2024 corn futures hit a harvest high of $5.16 per bushel in mid-October and have inched steadily downward ever since. By late January, however, prices appeared to have stabilized in the $4.50 to $4.60 range while they, like other grain markets, wait for news that might shake off their winter funk.

The little news that did hit the grain markets after the year-ending holidays was more encouraging to market bears than market bulls.

For example, our friends at farmdocDAILY released their revised (from last August) 2024 crop cost …