2020 Cash Corn Prices May Fall Below $3.00

URBANA, IL – Economists at the University of Illinois are carefully considering how projections for the 2020 corn crop may affect crop prices throughout the rest of the growing season. Dr. Gary Schnitkey, University of Illinois Agricultural Economist, writes that with a current USDA yield estimate of 178.5 bushels per acre, producers might expect a harvest price of $3.10 per bushel. Cash prices, according to Schnitkey, usually would be lower, which suggests cash prices below $3.00 this fall. Higher yields would be expected to result in lower prices and lower yields would be expected to result in higher prices. Still, he says, “it seems reasonable to expect harvest prices in the low $3.00 range.”
(SOURCE: FarmDoc Daily)