Although northern Indiana is seeing a cool start to spring, an area farming expert predicts planting season will result in a great yield this year, which may in turn mean lower prices at the grocery store on some items.
Matt Bechdol, a specialist in geo-spacial analysis for food and agriculture, feels that food prices may indeed drop based on new weather models and last year’s yields.
“El nino is starting to take shape which historically means a longer, cooler and somewhat moist growing season which would normally mean a very good crop,” said Bechdol.
He continued that the Midwest is in a great position after several years of great corn, soybean and wheat crops.
“We have global stocks like we have never had before. We have global economies that are slowing down where demand is slowing down,” commented Bechdol. “We have the rising dollar which makes our goods more expensive. If we add another really good year to that, it could drive prices lower.”
A great yield will likely mean lower prices at the grocery store and fuel pump. Prices probably won’t start to fall until after harvest, though.