Corn prices compared to this time last year

I've been watching this years corn prices compared to last year. I'm wondering why the corn prices at the store haven't gone down? The price last year per bushel on July 19 2012 was $7.29 per bushel. Today it is $4.95 per bushel. That's $2.34 cheaper per bushel. Why is the price per bag at the store not lower than this time last year? I understand that they have processing cost but it seems the price is the same as it was last year. Are the feed stores just making more money?

Here is the US agriculture forecasts from last year and this year.
July 11 2012 projections. Last year.

July 11 2013 projections. This year.

I would hazard a guess that those prices haven't made their way from the field and into the bagged corn yet. I know several guys that are harvesting right now, so it will take some time to get it at your local store. I don't buy much corn this time of the year, but the bags I bought on Saturday were definitely not this year's harvest.

Feed stores and wholesale buyers sign purchasing contracts on their grains several months ahead of time, and are locked into that buying price for the length of that contract, or until they have sold the amount that they contracted to buy.
When they need to buy more, that new contract will be a reflection of the grain prices at that time, and the prices we pay.
I was told last week that this years crop should hit the market around November, and it will be cheaper. A retail price of around $9.00 / 50lb.

Funny, I just talked to several feed stores to get pricing on 50# bags, since we need A LOT of corn to get feeders filled. 2 of them said that they were on summer prices from the last several months with the additional fuel costs in the corn. One said that within the next month or two, they will be on current pricing, and the prices will be coming back down. He suggested I wait a month, but I need corn now. So I may just get enough to last a month or so.

Here is a link to current corn price.

http://www.quotecorn.com/

Bag corn around here is about 50 to 75 cents a bag (50#) higher than same time last year. If I were to buy it in bulk (over 1000# NOT BAGGED) the price would be about $1 to $1.50 lower per 50# weight. Don't need that much, plus don't have anywhere to store it or anything to haul it in.

I was told that yes the market had gone down, but the availability was not there yet. So that being said, ( They want to sell the old stuff first)

Makes sense on y'all's explanations. I'll keep a watch on it.

It's still too expensive

Corn you are currently buying was harvest last year, current commidites prices are for contracts, more or less.

Say I grow corn... futures show $ 5 a bushell. I can contract my corn. Meaning as long as I produce I'm locked into that corn price at harvest for as many bushell I have contracted.

What your seeing price wise in futures currently or even into Oct. Mean nothing to the average guy.

If you look at corn futures, the price drops a lot in Sept., when a large Midwest corn harvest is expected to hit the market. Current cash prices for "old crop" corn are still relatively high.

I'm young and I remember when corn was $3.50. And we complained about that

$5 a bushel sounds about right. I just bought a trailer load (just over a ton) straight out of the combine for $200.

Becareful of moisture content.

Price of corn at Falls City Mill went down last Thursday. I just went and bought a bag. $8.45 per 50#. Lady at the counter said they went down last Thursday. It was $9.65 before that. She said they knew they should go down but no one else was.

Feed prices will never be there again. -Gloom & Doom-

I can remember paying $3.50/100 for uncleaned corn at Fall City Milling in the early 80's.

Sept futures down another .17 today, to 5.23 with dec down .13 to 4.84. Its the low print for that sept contract dating to april of 2011 and low for the dec contract dating back to nov of 2010.

Did you play Football with a Leather Helmet Gosh Doggit you Tee'd that up Ranchman! I do remember Chummin like a Big Dog just to not have to haul it back, not so much now!

Would the US abandoning the wholly failed ethanol as fuel endeavor help or hurt prices?

It depends on the export market. Prices will fall but won't stay low for long. Infact I bet we haven't seen the highest corn prices yet.

They will but that price isn't substainable that low. No farmer will farm for 3.50 bushell. They are in the red.

I think china, will end up stablizing the market around 6-6.5 a bushell, which is still very cheap corn.

price dropped $2 a bag here today. just bought 10 bags. $7.75 for 50 bag at Mumme's in Hondo.

Nice!!!

Sweet. When will mummes start stocking the HEB's?

Purchased a pallet of 40/ 51 lb paper bags, over 2000 lbs. for $300. That's $7.50/ per bag from a Waco farmer named Bud, # 254-744-8461.

Just got back from a trip through Western Kansas and Western Nebraska. Irrigated corn, of course, was OK but dryland corn was a disaster. Mile after mile in which either the top portion of the plant was dead or the entire plant was dead. USDA says that Nebraska and Kansas is going to be up but from what I saw, a heck of a lot of corn acres are never going to find their way to your feeder.

It would also result in corn acreage going way down!

In Pasadena/Laporte Texas Walmarts deer corn is a dollar or so higher than last year and Academy is the same price.
WM 9.97 40lb
AC 8.49 40lb
The local co-op 10 and change for 50 lb bag last I checked.

Our Walmart has the 40# bag for $8.44 and as of last Saturday they raised the price of the 50# to $11.27. Makes one wonder if they know what is going on in the commodity market. Our HEB grocery still has 50# at $9.97. It is nice to learn of the 7.75 price in Hondo and the 8.40 price in Lampasas.

Where'd you pick it up at old goat?? I'm up in valley mills

Speegleville, By Lake Waco.

This weekend, Buc-EE's in Luling was $8.50 a bag for 50# bags. I think it was around $9 a bag earlier this year

Update on corn price.....
Buc-ee's in New Braunfels has the 50# bag for $7.50

There's an article in the Fort Worth Star Telegram today about the U.S. cattle herd being the smallest in decades due to the drought, and I quote,"While feed costs are now slumping as U.S. farms prepare to reap the biggest corn crop ever."
Beef prices are high right now, and the price of corn will go down as this years crop starts to hit the feed stores. I've heard about all the drought and floods in the mid-west, but somebody somewhere is making hay!

Not Texas, Oklahoma, or Kansas.

50 pound bag in Wichita Falls dropped from $11.50 per to $9.50 per this week. Hope it drops more...

Lots of ongoing discussion about that projection.

+ I just got back from Western Kansas and Nebraska. Lots of dryland corn was DEAD.

Everyting I hear about the Eastern Corn Belt, Illinois, Indiana, and Ohio is that they're going to have a bin busting harvest.

#50 lb. bag at Luepold Grain in Nada was $6.50 Friday.

That's the cheapest price for 50# I've seen in years...too bad it's too far for me

$7.50 per 50 lb. bag of clean deer corn is what I'm getting right now.

My uncle is a rancher in central Texas; his heard is very, very small now. There is no grass anymore, only field after field of weeds which are not nutritious. The rains stopped at the wrong time last year and came too late this year.

And, if you are looking to sell horses (even family 'pets'), the only people buying are the slaughter houses in Mejico.

If the drought subsides for three or more years, things will turn around but not any time soon.

I traveled thru Menard, Mason area last week on the way to San Angelo and was surprised at how well the pastures look. Much better than south central Texas. Last year by the time the rains came, most ranchers had reduced their herd in this area due to having to haul in so much feed and hay. Where I hunt, many never built their herd back up.

I got it for $7.25 for 50 lbs at Oasis Outback in Uvalde this weekend.

7.95 a 50lb in Leon this weekend

Last week, I got corn from the field for $28.50 per 55 gallon barrel. I think the barrels hold about 350 pounds.
I was glad to get it!

I paid $7.55/50# at Lyssy & Eckels in Poth yesterday. Very clean and was new crop corn with no dust.

Nice! I'll be buying from them in about a month. Hope it goes even lower!!!

Anyone know the price around Dublin? Stephenville?

7.99 at gores in comanche

9.00 for 50lb bags at Moor's wildlife Feed in Schleicher County.

Thursday, it was 9.00 / 50 lb. bag at Westex just east of 281 on IH20.

8.00 at McKinney Feed this week..

Is that for a 50 lb bag?

$6.50 @ Belton feed

That's a good price if its 50#.

We paid $8.49 for a 50lb bag at the Shoppin Basket in Coleman last weekend. The supply store in town were still asking $9.99 for a 50lb bag.

it is 50#'s.....said price should go down next week as well. Corn/soy bean was 10.50 bag.

$6.95 per 50 lb. bag @ Fehners in Gonzales, TX.

No joke, $6.50 per 40# Academy Ft.Worth

this is not necessarily the case in recent years.....the Chinaman has made a habit of coming in at harvest time in recent years and stocking up while supplies are available at any price and driving up the prices

http://www.indexmundi.com/commodities/?commodity=corn&months=60

2008 there was a harvest price drop

2009 there was a slight uptick into October and November and then a slow decline until June 2010 heading into harvest and the price was through the roof all the way until April 2011 planting intentions were known

there was a drop for 2011 at harvest and then a drop for 2012 harvest as well, but only slight

heading into 2013 prices have been moving up so far through August for both Sept and Dec delivery of corn and even March 2014 delivery

so in 2008 one would have been much better off waiting for harvest price drops

2009 slightly worse off waiting for harvest price drops

2010 one would have been killed waiting for harvest price drops

2011 and 2012 ahead and so far for 2013 behind

so really over the last 6 years it has been about 50/50 on the harvest price drops

with South America moving more acres into corn VS soypeas that has an effect on what the price does in the USA around harvest time and just after as planting intentions and planting weather becomes known for South America and if it looks bad some countries that need physical product (like the Chinaman that needs to satiate the masses with cheap pork and other foods) will move in aggressively and kill the harvest price drops

and with ethanol now still viable (even with the blenders tax credit/subsidy now long gone) what the price of oil does and the spread between ethanol and RBOB will play a factor in the price of corn as well since ethanol producers will move to lock in a profit if ethanol trades high enough and corn low enough no matter what the overall price if for each of them

as of now (11:21pm Sun August 25) RBOB is 2.8705 and dropped slightly while ethanol is 2.047 and moved up .13 so that is .8235 difference in price between gas and ethanol

ethanol and gas do not move in unison, but as long as gas is moving higher for the long term it will carry ethanol with it and as ethanol moves up it can carry corn as well no matter if it is harvest time or not......even more so since as corn moves up DDGs left over from ethanol become more and more popular especially for export to the Chinaman and that again boost ethanol producers profits and thus corn demand

Paid 7.99 for 50# bag at Sutherlands Corpus

went to Leon County this weekend from Katy area,and the newly opened Bucc-ee's in Waller, the corn price was 7.99 for 50 lbs. Was clean and looked good.