Outlook Dim for Increase in 2020 Corn Price

WACO, TX – The outlook for corn prices in 2020 is positive for consumers but slightly less for producers. Dr. Mark Welch, Texas A&M AgriLife Extension Grain Marketing Economist explains that conditions appear ripe for a large worldwide supply of corn in 2020 with prices expected to remain around $3.50 per bushel. Speaking at an income growth conference, Welch told the crowd that with the supply being large, just one hiccup in weather could provide additional pricing opportunities. Weighing on the optimism for higher prices is what is expected to be increased acres this year in both corn and soybeans – in response to acres that were prevented from planting in 2019. With just an average yield, 2020 could be one of the largest crops in history. Welch apologized saying “I wish I had a more price-positive outlook for you corn producers, but it doesn’t appear to be in the forecast.”