Prices, Future Markets on Minds of South Dakota Corn Growers
SIOUX FALLS, S.D. (AP) — South Dakota corn farmers produced a record crop last year, but prices and future markets will likely be on their minds during their annual convention Saturday.
Corn Growers’ executive director Lisa Richardson says high prices after the drought led to a huge decrease in exports, and ethanol companies aren’t building new plants. The China market is ripe for expansion, but it hasn’t been opened enough to have an effect.
Richardson says farmers are wondering where the next billion or 2 billion bushels worth of demand is going to come from.
Saturday’s annual meeting at the Sioux Falls Convention Center will also include panels on nutrient management, conservation and sustainability.
Corn, which was trading around $8.20 per bushel in June 2012, is currently trading at about $4.25 per bushel.
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