TRUMBULL CO., Ohio (WKBN) – Farmers are harvesting this year’s corn but are facing low prices for the fourth-straight year.
Hovering around $3.50 a bushel, prices are about half of what they were in 2013.
“It’s probably the lowest we’ve been in awhile,” said Jenifer Pemberton, a grain merchandiser at Deerfield Ag Services.
Most of the corn grown locally is a feed-grade corn, meaning that it’s used for animal feed and for ethanol.
There’s a lot that goes into the price of corn. The price of oil, politics and international treaties all play a part in the low price.
Out in the field, however, the reason is much easier to understand.
“Too much corn, not enough consumption. That’s real simple,” said Trumbull County Farmer Dan Denman.
At $3.50, the average field will bring in about $550 per acre. That’s not a lot, especially when just four years ago the price was double what it is now.
That means farmers will have to get creative in their finances.
“We gotta do whatever we can do to conserve and watch the markets and pricing and buy when we think we can buy products at reasonable prices and do the best we can,” Denman said.
The financial impact from this harvest could reach forward to spring planting, too.
“It will actually probably be more difficult because money will be tighter,” Denman said.
Farmers say they will do what they can to make ends meet.