South central kansas | Pitt - 11/13/2023 15:32
Look at the chart that In555 posted. Prices took jump in 72ish and held that level until 2007, where it jumped to a new level where it will probably trade in this new range until 2040 or so. I would not rule out a spike sometime to the the new highs in the next few years.
Corn has come down to the $3.00 level several times the last 16 years, and will most likely hit those levels again. I would also not rule out a spike low below the $3.00 level to $2.25 similar to the spike low of $1.48 in the mid eighties.
Going off of marketing Year Average price, we get this:
https://farmdocdaily.illinois.edu/2022/05/are-long-run-prices-still-4-for-corn-10-for-soybeans-and-5-50-for-wheat.html
The long run Inflation adjusted price for corn,(as well as for wheat and soybeans) show long term declines with periodic spikes where demand temporally outstrips supply, but over the longer term supply outstrips demand .
Edited by zenfarm 11/14/2023 06:31
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Corn
