Ideal weather for crops this summer means lower prices - Cincinnati News, FOX19-WXIX TV

Ideal weather for crops this summer means lower prices for consumers

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CINCINNATI, OH (FOX19) -

This summer's abnormal weather created near perfect growing conditions for farm crops which could mean lower prices for shoppers.

Projected high corn yields, called bumper crops, could force prices not seen in the past five years.

Per bushel prices for harvested corn have dropped 18 percent since last year.

Experts expect meat prices to also drop, since corn feed costs are down.

Matt Roberts, an agricultural economist with Ohio State University, projects it will take a year before those prices are passed onto the consumer. He said dairy and poultry prices would be first to drop and could happen as early as this fall.

However, Roberts warns that is not great news for farmers. He said at this rate, most will either break even or make only a small profit this year.

Prices of other crops have fallen sharply as well, with soybeans trading at near two and a half-year lows and wheat at near four-year lows.

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