(Ames) Grain prices skyrocketed last week pushing cash corn over $6.00 per bushel, and cash soybeans, over $15.00 per bushel. The price of cash corn is $1.00 higher compared to this same time one month ago. Over half the gain occurred last week.
Iowa State University Professor of Economics, Extension Economist, and Crop Market Specialist Chad Hart points to several building factors affecting the market.
Hart says these factors combined with weather issues are adding fuel to the fire.
Hart says there are several things to watch for as we move forward through the planting season.
Hart says the market is in a time of volatility, and can move limit down just as quickly as it can post limit higher gains in an environment we haven’t been in for a while.
Again that’s Chad Hart, Iowa State University Professor of Economics, Extension Economist, and Crop Market Specialist.