Strong supply, but low prices for corn, soybeans
CAPE GIRARDEAU (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.