Bumper crop of corn affecting prices

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OMAHA, Neb. (WOWT) -- Agricultural forecasters are predicting hard times on the farm. Experts say corn prices could drop to levels that many farmers haven't seen in decades and they worry there's no relief in sight.

Those amber waves of grain are so plentiful this year, some grain companies are piling it up on the ground and there are more grain trucks coming. Joe Moran has been growing corn and raining cattle almost all of his life. He says this is one of the best corn crops he's ever seen.

“We had one of the better corn crops of our life. It’s 270 bushels of corn to the acre quite a bit of it that way some a little less any way it was a very, very good corn crop,” said Moran. “Back in the early days if we got a hundred bushels an acre we thought that was a great crop.”

But the big crop isn't helping the farmer; prices are down, a little more than $3 a bushel. Moran said right now his corn bins are full and he might wait a bit before taking it to market.

“We hope it will be a little better after Christmas but anyway it’s not all that profitable now,” he said.

Moran explained that the big grain companies will store the grain until the market gets better and everyone on the farm is hoping that comes sooner than later.

Many people who raise cattle use corn to feed their animals. Cattle prices are already down a bit from last year. Moran told WOWT 6 News it always takes a while before prices at the supermarket reflect what's going on "on the farm.”