August 28, 2014

Nebraska Corn Board, Governor says new trade agreements will not affect corn prices

Amidst ┬áconcerns of rising corn prices and bleak crop reports due to a drought in Nebraska, there’s rising concern that recent trade talks with China could put more stress on corn growers.

Speaking from China during a 3-day trade mission, Governor Dave Heineman says Nebraska farmers can meet those needs.

“Long-term, I still think this is good news for Nebraska”, Heineman says. “Short-term, we’re gonna have a challenge or two”.

Nebraska Corn Board’s Director of Research Kelly Brunkhorst agrees with the Governor and says they hope the drought is short-term.

“We continue to look long-term… we will continue to produce more corn than we’re able to currently find a demand for”.

Brunkhorst says he doesn’t see the trade agreement with China having an impact on the market prices because it’s a long-term opportunity for producers.

As far as the drought concerns, Brunkhorst says with about a month before harvest is in full swing, it’s too early to tell the impact the drought will have on yield and prices.