How will 2014 shape the 2015 season, and why was there such a price drop for corn this year? The truth is that prices were unusually high from 2011 to 2013 for several reasons: increasing ethanol production, strong imports from China and a severe U.S.drought in 2012. These factors led to greatly increased prices, but now the ethanol market and imports to China have stabilized, and the current prices are likely to be here for quite a while.Michael Langemeier, director, Center for Commercial Agriculture, Purdue University, believes that while the irrigated corn acre will remain the mainstay, non-irrigated acres will see more of a 50/50 corn-soybean split, with some areas increasing soybeanacres or wheat in the far southern climates.
展开▼
