In addition to weather conditions and the local economy, local farmers also need to consider global factors when setting their prices in 2015.
Senior Risk Manager with The Andersons Mike Mock says low global oil prices mean reduced production costs across the world.
"If you've got a farmer in South America who is hauling beans a thousand miles to port, and his fuel bill gets cut in half then that's significant," he says.
Mock adds the conflict in Ukraine will also create a better opportunity for western farmers, as the demand for grains is increased, mixed with the adjustment for inflation.
