Patrick Westhoff is the Director of the Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri–Columbia and a professor in the MU department of agricultural and applied economics. He was also our St. Louis Agribusiness Club speaker yesterday. I spoke with him beforehand since I had to leave early.
He says his job was to talk about why agricultural markets have been so wild the last several years and why they’ll continue to be volatile for years to come. He says one of the reasons is an “ordinary garden variety one” which is weather. Sometimes people forget that he said. He says they’re watching agricultural land markets vary carefully. And of course he mentions farm policy and the farm bill and the efforts in Washington, DC recently. When it comes to tight corn stocks he says the smallest piece of news is having an impact on markets and he expects that to continue for the next several years. Hear some more of his outlook in my interview.
You can listen to my interview with Patrick here: Patrick Westhoff Interview