Iowa corn prices may drop - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa corn prices may drop

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IOWA CITY, Iowa (KWWL) -- Iowa Farm Bureau officials say state farmers are positioned to match or break the record for corn crop yield. However, it could result in a drop in corn prices.

Iowa Farm Bureau director of research Dave Miller, says based on U.S. Department of Agriculture estimates, the Iowa corn harvest could yield between 175 to 185 bushels per acre.

According to Farm Bureau officials, the Iowa corn harvest record is 180 bushels per acre. Last year, Iowa farmers harvested about 165 bushels per acre.

Nationwide, the USDA is forecasting a yield of 153.4 bushels per acre. A record 160 bushels per acre was set in 2004.

According to Miller, the price of corn has seen a drop in the last 40 days from $4.50 per bushel to $3.20 per bushel.

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