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Central Missouri | If we could set the price of our goods I would agree but we don’t. We produce commodities that have a 1 year business cycle. Our inputs will be affected by inflation but I don’t think our output price will.
Look at the late 70’s, inflation was rampant but the world was in overproduction mode on grains just like we are entering now. Grains stayed in their long term range of price as costs escalated. The events that saved the farmer 80-84 was the dry weather of 80 and 83. Once that went away 85-87 happened.
My point is that we w I’ll not get the advantage of inflation in the price we sell but it will affect our cost of production. | |
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Corn
