by Ben Nuelle
Corn and Soybean farmers are pinching pennies due to low prices. Unfortunately, an Iowa State Economist University thinks 2016 prices will stay where they are or even drop lower from where they are now. Chad Hart is an economist at Iowa State University. He says this period of low prices is not over and we’re halfway through an uphill battle.
Hart says when looking at trends, a period of low prices like this typically lasts six years. “We’re only in year three,” Hart says. There is some slightly positive news. He still thinks there will be a few spikes in prices throughout the year if we have some type of natural disaster in crop producing states whether that’s a major drought or horrendous flooding.
Hart explains more in the audio clip above.
