Missouri river bottom south of Sioux City, IA | Back in the day is was Dallas McGinnis at WOI radio. It was kind of an exciting time listening to market reports on the radio from Oct of 1972 to June of 1973. Soybeans price went from $3 to $10. Dad had 7,000 bushels of the 1972 soybean harvest in a bin. Needless to say he was a happy camper.
And now 53 years later we are at $10 soybeans. I’m sure back in 1973 most thought $10 soybeans would not stay around for very long but I bet no one thought 50 years later you see the same price.
With the upward trajectory we are going on with land prices, cash rents and crop inputs cost, rational thinking is commodity prices in 25 years can’t be at the same level as today. But it is all about supply and demand and prices could be lower in 25 years then what they are now.
Tom N.
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Old time grain prices