This past spring the world was turned upside down when the coronavirus pandemic hit. COVID-19 will have long-term impacts on the agriculture industry. “It pointed out vulnerabilities we had in the ag and the food chain,” said Marc Knisely, CEO, AgCountry Farm Credit Services. “It is changing how we do business and how then farmers react.” Lynn Paulson of Bell Bank chimed in by saying this is an event agriculture will remember for a long time. “The supply chain is only as strong as its weakest link, and we’ve found where the weak links were in areas.” While there’s been some recovery in the commodity markets, NDSU Extension crops economist Frayne Olson is concerned things are getting a little top heavy. “Part of it is driven by Chinese buying. There are concerns about how large the U.S. soybean crop will be, but a lot of the lift in the market we’ve seen is also from the investment community coming in and buying soybean futures.” The trio joined the Red River Farm Network at the Big Iron Farm Show. View the seminar here.
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