Price of Corn is Dropping - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Price of Corn is Dropping

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(Photo: MGN) (Photo: MGN)

GEORGETOWN, Del.- Corn planting season in Sussex County does not kick off until the end of April, but the Chicago Board of Trade already expects a surplus. 

Farmers like Danny Magee are anticipating the impact. "When your production costs are up and what you are getting for your product is less; that's a problem."

There are two reasons for that problem.  Last year's drought led to a larger harvest this year and less corn than expected was used for animal feed.  This has all led to one thing; a surplus of corn.  That is bad for those who harvest it, but good for those who use corn for feed.

The poultry industry is one of the largest industries in the county. Area poultry farmers feed their chickens corn, so the price of corn will actually have a very large impact on local farmers.

Farmer Keith Johnson said, "Low commodity prices will help the livestock producers, which would inadvertently help the local poultry market."

If it costs less to feed chickens, consumers could see prices come down at the grocery store.  

Corn prices are already dropping.  On Thursday, the U.S. Department of Agriculture said domestic corn stocks were well above expectations.  As a result, prices of corn dropped by 40 cents a bushel.  

Corn prices are still up in the air.  The weather will ultimately determine supple and good or bad, this will affect Sussex County.

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