Determining a "good" price for new crop corn

As we roll into mid-summer, many farmers are looking for opportunities to do some forward contracting for fall. This has led some farmers to ask, “What is a ‘good’ price for 2024 corn?”

When asking yourself this question, recognize that “good” is a relative term. A good price for one farmer may not be a good price for another. First, determine what you are comparing the price against. Once you have determined your measuring stick, we can assess the viability of a price. Here are a few comparisons you might want to make as you consider pricing new crop corn.

1. Lender-provided cash flow budget...