Corn Prices Find Floor at $4, Soybeans May See Boost

Grain market economist Ed Usset believes corn prices have hit a floor and will not fall below $4 this fall. Speaking to Brownfield, Usset said that new crop contracts are moving towards $5 per bushel.

While prices may dip back to around $4.25 or $4.30 on the December contract in June lows, Usset is confident that corn prices have stabilized. He notes that current price levels are significantly higher than last year and expects further improvement after harvest.

Usset also expressed optimism about soybean futures, predicting support for November contracts between $11.30 and $11.40 per bushel. With cooperative weather and a successful harvest, Usset thinks the next few months could be an interesting time for grain prices.