FORT WAYNE, Ind. (WANE) – Although we had a cool start to the Spring, an area farming expert predicts planting season will bring a great yield this year. So much so you may start to see lower prices at the grocery store on certain items.
Matt Bechdol specializes in Geo-Spacial analysis for food and agriculture. Based on new weather models and last year’s yield, don’t be surprised if you see food prices drop.
“El nino is starting to take shape which historically means a longer, cooler, and somewhat moist growing season which would normally mean very good crop,” Bechdol said.
After a few good years of great wheat, corn, and soybean crop, Bechdol says the Midwest is in a great position.
“We have global stocks like we have never had before. We have a global economies that are slowing down where demand is slowing down. We have the rising dollar which makes our goods more expensive. If we add another really good year to that, which could drive prices further lower.”
Expect to see prices start to fall after harvest. The great yield will mean lower prices at the grocery and fuel pump. And more money in your pocket.
“Those prices should be passed along to the consumer along the way whether that is through animal protein, ethanol or fuel or through their corn flakes. Those should trickle down.”