High corn growth could mean lower prices
COLUMBIA - Record corn yields surprisingly have some farmers upset.
Farmer's are expected to receive less money for the corn they sell.
The Food and Agricultural Policy Research Institute at the University of Missouri predicts farm corn prices to be lower this year, thanks to an excesss amount of corn produced. The institute said Missouri corn is expected to cost $3.50 per bushel.
According to the USDA, corn prices are expected to be around $3.25 per bushel. This is less than 50% of the price of corn just 2 years ago in 2012.
Missouri farmer Dennis Schwede, however, said his corn prices have remained the same as previous years.
"The supply is good, but the demand has been very good also, really good for the summer," Schwede said. "So we've pretty much stayed at a steady price all summer long."
He said the excess corn supply has been great for his business since he has been able to sell more.