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Green Fun Store News

Speaker talks commodity prices with farmers at annual John Deere Day

Posted by Green Fun Store on 2/1/2011 to Current News/Events of John Deere
Wooster, Ohio was the chosen spot for a farm life convention as farmers gathered last week in the sleepy town to talk about the state of the farming industry at Shearer Equipment's annual John Deere Day.

Farmers from around the state came together to talk about the record farming income many U.S. farmers pulled in during 2010, and whether that upswing can continue through 2011. Darin Newsom, a DTN senior analyst, led the discussion about crop yields, global demand for farm goods and farm earnings during the day's events.

With John Deere tractors serving as his backdrop, Newsom affirmed that the biggest question on the minds of farmers is whether surging demand will remain through this year; Newsom contends that the long-term commodity trend looks positive, but the short-term market could be a bit shaky as price rises may be followed by falls.

"We're dealing with something new," he told the crowd. "Commodities now are viewed as a long-term investment option." Newsom is known in the industry as a skilled analyst and has accurately predicted swings in commodity price changes before, and the 1,200 farmers in attendance listened intently during his speech.

After his speech, the farmers perused the John Deere farm equipment; many asserted their favorite setup was a computerized simulator that allowed them to sit in the seat of a large John Deere tractor and drive it through a course, much like a video game.