Strong supply, but low prices for corn, soybeans

CAPE GIRARDEAU, Mo. (AP) — Corn and soybean farmers are seeing record yields, thanks to a cool, mild spring. But the downside of the strong supply is a dip in prices.

The Southeast Missourian reports that record-setting yields are being recorded. Agriculture experts say the result is more grain going to market — and lower return for farmers.

Storing grain is especially important this year. Some farmers want to sit on part of their yields, hoping prices rebound in the winter.

The price per bushel of corn is down by more than half from a year ago, to roughly $4 from about $8.

Missouri’s corn crop may reach 599 million bushels. Soybeans may reach 258 million bushels. Both would be records.

 

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s