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Business & Economics

War in Ukraine's effects on South Dakota agriculture

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This interview is from SDPB's daily public-affairs show, In the Moment, hosted by Lori Walsh.

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The war in Europe is creating volatile markets across the globe. Kevin McNew is chief economist for Farmers Business Network. He says in spite of the rapid changes, South Dakota farmers could be heading into a strong growing season.

“It doesn’t look as good as '21 but I think it’s still good even with where markets are today, “said McNew.” My own personal belief is that commodity prices will continue to rise as we move forward. I think we will get closer to those lofty profit levels we saw in '21, we’re just not quite there today. I think it’s going to be a good year for farmers, and it could be a really solid year if commodity prices do what I think they’ll do.”

The next planting report from Farmers Business Network is released at the end of this month.