• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Agriculture / Corn prices have doubled in past 15 months

Corn prices have doubled in past 15 months

August 26, 2011 By O. Kay Henderson

The price for a bushel of corn has dramatically increased in the past year.

Chad Hart, an Iowa State University economist, says corn prices are soaring because the demand from the ethanol and livestock industries, plus demand for U.S. corn exports, are larger than yield projections.

“Last summer we had corn prices in some cases down around $3.50 a bushel,” Hart says. “Now we’re up in the $6 to $7 range, so we’ve seen nearly a doubling of prices, if you will, over the past 15 months.”

The U.S.D.A. predicts corn prices will remain high over the next year, as flooding and drought hit other parts of the corn belt. Iowa, however, is pegged to produce a record amount of corn — 2.43 billion bushels — and the value of that crop will be high as purchasers compete for the limited supply.

“China’s been a very early buyer of the corn crop we’re growing now,” Hart says. “…That’s something that’s got the market a little worked up right now.”

The grocery bills for consumers are hit by the higher corn prices, as products like meat, milk and eggs get more expensive as farmers spend more to buy the corn they feed their animals.

Share this:

  • Facebook
  • Twitter

Filed Under: Agriculture, Business Tagged With: Corn & Soybeans, Pork/Cattle

Featured Stories

Iowans 65+ now eligible in next phase of Covid vaccinations

Bill would remove transfer limits in five Iowa school districts

Former Iowa sports talk host sentenced to federal prison for ticket scams

Feenstra only member of Iowa delegation not at Biden’s inauguration

Congresswoman Axne favors Biden pandemic relief plan, Hinson not ruling out a ‘yes’

TwitterFacebook
Tweets by RadioIowa

UNI adds two nonconference games to basketball schedule

Iowa State-Kansas postponed

Iowa-Michigan State postponed

Fire damage to Riverfront Stadium electrical system will cost Waterloo thousands

Iowa State at Kansas State postponed

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 · Learfield News & Ag, LLC