"“We saw how price spikes caused by this government mandate impacts turkey growers when corn prices reached almost $8 per bushel: U.S. turkey production declined by 9 percent, resulting in loss of rural jobs.”
Once combines are shedded for fall 2014, it's likely that corn growers will turn to pencil and paper to begin calculating how they can bring home a profit in 2015. Current expert projections are that 2015 corn will cost some $4.50 per bushel to grow and today's price projection for 2015 corn commodities is near $4.00 per bushel. Read more on Producer's website!
Since mid-November, China has turned away 1.45 million metric tons of U.S. corn because of the presence of unapproved Syngenta GMO varieties. The rejections have depressed U.S. corn prices by an estimated 11 cents per bushel, accounting for projected losses of $1.14 billion for U.S. corn farmers for the last nine months of the marketing year that ends on August 31. http://www.rawstory.com/rs/2014/04/17/chinas-ban-on-gmo-corn-costs-us-up-to-2-9-billion-grain-association-says/
Updated projections by the Agriculture Department on Thursday forecast significant price declines for corn, wheat and even soybeans — all large enough to trigger potential payments under the new farm bill. Corn stands out the most, with average prices dropping to $3.90 per bushel in the coming crop year, even after the department assumes reduced...
Curious about the value of corn in some food products? We were, too! That’s why we took a look to see the value of corn (or, in some cases the value of corn used to make a food ingredient) if corn is priced at $6.00 per bushel (about 10.7 cents/pound).
TUESDAY, July 31, 2012 - The price of corn has soared during recent weeks as extremely hot and dry weather bakes states in the Midwest. Corn futures surged almost 22 cents on Monday to $8.20 per bushel, near the all-time high of $8.24½ hit on July 20. Investors are worried the U.S. drought will ravage crops. That has pushed corn up 27% this year and stirred fears of higher food prices.
Subtracting total costs, we see no-till had net revenues of $190.32 and conventional tillage had net revenues of $91.28/acre. Our no-till farmer was 52% more profitable than his conventional tilling peer. Another way to look at these numbers is to consider the cost per bushel of production. It cost the no-till farmer $4.03 to produce one bushel of corn, and the conventional tiller $4.52 to produce a bushel. That gives the no-tiller more of a cushion to remain profitable if prices drop.
America grows a lot of corn — and most of it goes to non-food uses like ethanol and animal feed. It’s hard to say how good that is for our planet or the climate. Get a bushel of facts below — and read the full guide to ag subsidies here.