CONTINUED LOW PRICES HAVE SOME CORN AND SOY BEAN GROWERS TRYING TO FIGURE OUT HOW TO HANG ON

The continued low prices of corn and soy beans have many farmers unable to cover business costs. The average monthly prices for corn have been below $3.50 a bushel for over a year, while in 2011 and 2012 prices were between $7 and $8 a bushel. Within the U.S. median farm income has dropped to a loss of about $1,100 and economists aren’t predicting and increases in crop prices. The reason for these low prices has been attributed to large amounts of grain available in the market, as well as increased global competition. This is causing many farmers to get creative with how they operate and take a hard look at whether they can continue their operation.