Return of the Buyer’s Market
Looking back on the 2013 harvest, we can summarize the year’s dominant theme in one word: replenishment. In 2012, once-a-decade weather aberrations in all of the major growing regions created extremely tight carryovers headed into 2013. Prices rose to levels unprecedented in recent decades. For grain, pulse and oilseed growers, it all translated into a comparatively easy period of doing business. It was the proto-typical “seller’s market.”