High corn prices may cause problems for Iowa farmers
DES MOINES, Iowa (KCCI) - High prices are projected for corn and soybeans in Iowa, but this boost may not be good for farmers and consumers.
One farmer, Brian Sampson, finished planting his corn last Friday. He’s already seeing small sprouts following this weekend’s rain.
Corn prices are up nearly 50 percent from last year, but Sampson said this might not be good news.
He says he’s worried his prices will rise along with consumer prices.
About 40 percent of the U.S. crop is blended into motor fuel.
Many farmers don’t have corn to sell to take advantage of higher prices.
“It’s a kind of a twofold problem almost,” Sampson said. “It’s really good news, high prices are good, but then everybody else thinks it’s going to be high, too, (and) they want a piece of it. So, then everything else goes up, too.”
Corn is a key ingredient in products like tortilla chips, chicken wings, and Coca-Cola.
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