Iowa Farmers Rebound from Three-Year Drought as Crop Prices Soar

Iowa farmers are breathing a sigh of relief as crop markets rebound and soybean and corn prices rise. The prices of corn and soybeans have increased to nearly $5 and $12, respectively, after three years of financial losses.

Doug Fuller, a fourth-generation corn and soybean farmer in Cambridge, welcomes the change and attributes it to supply. Recent USDA crop progress reports found that supply in the country was below trade expectations due to weather conditions in different parts of the country and extreme heat in Europe this summer.

However, Fuller notes that international demand could be better, citing tariffs as a major concern. The looming trade war between the United States and Canada has farmers paying attention, even though corn and soybeans are not currently included in the tariffs.