Agricultural Predict Major Drop in Corn Prices for 2013
By: Chris Veech
Updated: December 12, 2012
The drought this past summer hurt corn prices this year, but we're learning it could effect 2013 leading to one of the biggest year-to-year drops. The U.S. Department of Agriculture predicts the midpoint of U.S. farm prices on 2012 corn will be $7.60 per bushel. If yields are more normal in 2013, prices could fall by by more than $2 to $5.50 per bushel, the largest ever year-to-year drop. But experts say normal 2013 U.S. corn production is nowhere near assured, especially if drought centered in the Western Corn Belt and Great Plains states persists into the growing season. If that's the case, then corn prices could raise to $8.50 per bushel.
