116 3rd St SE
Cedar Rapids, Iowa 52401
USDA projects higher corn yield, sharply lower average price
The U.S. Department of Agriculture on Thursday forecast a sharply higher corn surplus after a bumper 2012 crop is harvested, slashing the average price from a record $6.25 per bushel in 2011 to as low as $4.20 per bushel.
The USDA report, if realized, would mean less income for Iowa corn farmers, reduced production costs for the state's livestock producers and potentially lower food costs for consumers.
In this April 24, 2012, photo, a central Illinois farmer plants corn seeds in Auburn, Ill. (AP Photo/Seth Perlman)
Daily Newsletters