Grains Lower, Vexing Farmers

Corn and wheat prices collapsed to new lows this week, disappointing farmers.

Corn was especially damaged by a lack of a trade deal with China. That market had been hoping for increased corn and ethanol exports to China, but with no agreement so far, prices dropped to $3.58 per bushel on Friday, a three-month low.

Meanwhile, disappointing U.S. wheat exports have pulled Kansas City wheat futures to a one-year low at $4.32 per bushel.

Longer term, market watchers expect that prices could rebound if exports pick up, or if this winter’s harsh weather leads to a cool, wet spring that slows spring planting and damages plants.