Soybean and corn producers watched as high prices took a quick dive to the deep end.
At the beginning of January 2010 producers were receiving an impressive $4.28 per bushel of corn and $10.68 for soybeans. However, the last day of January the Chicago Board of Trade reported a large dip in numbers. Corn fell to $3.57 a bushel and soybeans were at $9.14.
Producers who have these crops in storage can expect to wait until summer for prices to increase.
Not everyone is suffering from the dip. Livestock producers can breathe a sigh of relief because this means that feed prices have dropped.
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Tags: commodities, corn, soybeans