The price of a bushel of corn is down to $380 compared to $6.70 in 2013.
Yield is expected to be higher this year, but it may not be enough to close the price gap.
“I don’t think you see a big drop in prices immediately,” Alan Knoblach of Akron Services Inc. said. “But with commodity prices dropping, if crude oil drops, diesel fuel drops, all those things come down. Yes, we will start to see some reprieve in the grocery store prices.”
Soy beans rely on August weather in order to finish up growing, but officials say the nearly perfect weather conditions so far this summer have them believing soy bean yields will be high.
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