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Dropping Corn Prices Forcing Farmers to Recalculate Budgets

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Corn harvest underway near Story City. (Roger Riley WHO-HD)

Corn harvest underway near Story City. (Roger Riley WHO-HD)

AMES, Iowa- A drop in corn prices means some Iowa farmers will spend more to produce their crop, than they will get selling it.

Iowa State University Extension Economist, Chad Hart said corn prices were at $8.00 in 2012, now they around $3.80 a bushel. A break-even price would be around $4.40.

With harvest now underway, Hart said that farmers will need to see if they should move their grain now or hold it until spring for a better price.

He also said farmers would need to look hard at what types of seed and fertilizer they would use, and also to negotiate lower land rental costs. Traditionally the land lease prices have been tied to the market of the commodities.

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