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Grain Prices

Crop Prices Drop

Corn and soybean prices have been quite erratic this Spring, due to tight supplies of soybeans, increasing supplies of corn, stable demand, and changing weather conditions across the Country. Nearby corn futures prices on the Chicago Board of Trade (CBOT) dropped nearly $1.00 per bushel since early April, while nearby soybean futures prices dropped by over $1.00 per bushel since late April. Local cash prices and new crop prices at are grain elevators and grain processing plants have not dropped as significantly, due to strong basis local levels, which have been maintained by very tight grain supplies and continued strong short-term demand. [ read more ... ]