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Bumper corn crop on tap as prices founder

Adam Belz, Star Tribune (Minneapolis) on

Published in Business News

"We're at the bottom of the market right now," said David Bau, a University of Minnesota Extension marketing specialist in southwest Minnesota and former ag loan officer.

Government income protection that's part of the Farm Bill and coronavirus relief will help most grain farmers avert disaster, Bau said.

"Without the government payments they'd have large losses, just like the livestock producers," Bau said.

Despite the poor prices, a good harvest is better than a bad one, said Dave Nicolai, a crops educator for the University of Minnesota Extension. Farmers will be able to store corn this fall and hope for prices to rise.

"These growers are going to have a cautious optimism," Nicolai said. "At least you have options if you have the bushels."

 

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