Corn Prices Projected to Hit $5

With U.S. farmers planting less corn and more soybeans, grain analysts are predicting the price for corn will reach $5 per bushel in 2009.

 The reduction in acres planted to corn is projected down by 3 million from the 86 million planted last year. Soybean plantings, however, may go up 4.3 million to a record of 80 million acres.

“Corn surely gains on soybeans and next year the corn market has to buy acres back from beans … this year is the year of corn,” said Dan Basse, president of AgResource. Basse has predicted the Chicago Board of Trade corn prices will trade in the range of $3.50 to $5 per bushel this year.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: