Corn prices have been declining for almost two years following the peak price generated by the very small U.S. crop in 2012. The recent sharp decline in prices has been associated with increasing prospects for a very large U.S. corn harvest again in 2014 following the record harvest of 2013. According to a University of Illinois agricultural economist, a second consecutive large crop would lead to a further buildup in stocks of corn by the end of the 2014-15 marketing year.
- Jul. 23, 2014