by Lisa Cleaver, Feed & Grain magazine
The North American grain industry had slow growth and export challenges throughout 2023. Looking ahead into 2024, emerging risks could depress profit margins and challenge traditional business models. After enjoying high profits for several years, it seems the ag industry may have to brace for a slowdown in the crop cycle beginning in 2024. The possibility of lower grain prices and some financial pressure on the farm means grain operations should begin preparing now.
Feed & Grain asked grain industry leaders to share their thoughts on what challenges might arise in 2024. Here’s what they had to say.
1. Grain storage improves, bushels remain elusive
2. Labor issues continue
3. Supply chain issues improve, but linger
4. Increased biofuel demand, soybean crush
5. Rising cost of carry will force lower bids
6. Cost of doing business keeps rising
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