An agricultural economist and consultant for Wells Fargo came to Idaho Falls today to speak to local farmers about things to look out and plan for in the near future.
Michael Swanson spoke of some major changes including a recovery from the severe drought of 2012.
He also addressed natural gas prices and whether or not farmers should lock in right now or not.
Farmers should also keep an eye on corn and ethanol prices because of their effect on fertilizer prices that many Idaho farms use.
“You know, we are bullish on agriculture’s future, we see global demand being very good, but we want to caution farmers when it comes to buying farm ground that ultra-low interest rates, which have really been a policy about the housing market, are affecting their opportunities, and so they need to be cautious about what they’re willing to pay for ground” said Swanson.
Swanson has been working for Wells Fargo for 15 years now.
