Local Commodity broker: Commodity market ‘on a roller coaster ride’ amid record inflation

Posted on July 28, 2022
Curt Kimmel from AgMarket.net, formerly known as Bates Commodities, spoke with WJBC’s Blake Haas. (Photo courtesy: WJBC/File)

By Blake Haas

BLOOMINGTON – Amid a war in Ukraine, commodity prices continue to send investors and farmers on a roller coaster ride.

According to Curt Kimmel, a Hedge Specialist from AgMarket.net, commodity markets are seeing volatile swings never seen before.

“Oh boy. It remains a roller coaster, highly volatile; we see daily swings that equal price moves that would happen in a year back in the day. It’s high volatility, lots of moving parts, and a lot of uncertainty in the marketplace. And that creates a lot of opportunities and a lot of risks too.”

Some uncertainty deals with summer weather patterns and inconsistent rainfall in central Illinois.

“What we’ve seen is we had a lot of enthusiasm price-wise to the upside here this last winter and spring due to the uncertainty on acres, the spring and summer weather patterns,” added Kimmel. “Then, plus this Russia- Ukrain situation, inflation, there are so many moving parts here.”

High prices include old crop corn touching $8 a bushel, while soybeans reached record levels.

Blake Haas can be reached at [email protected].

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