COPY-Ag expert: Record planting could drop corn futures prices - KTIV News 4 Sioux City IA: News, Weather and Sports

COPY-Ag expert: Record planting could drop corn futures prices

Corn prices affect a lot of things around the Midwest, especially the cattle industry.

One expert says farmers are expected to plant a record number of acres, about 99 million this spring. Commstock Investments President David Kruse says the drought has been especially hard on livestock producers, who have been coping with high feed costs.   

He says some parts of the East Coast and North are slowly recovering from the drought last year.

"A trend line yield would essentially bury us in corn, with that type of acreage, with a 4 billion bushel carryover, and I suppose that we could go back to old historical lows, relative to corn prices if that were to happen," said David Kruse, president of CommStock Investments.    

Corn futures are about $7 a bushel now, but Kruse says if crops do well in some parts of the country, the price could go down to $5.50.

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