American Family Farmer

Host and American Family Farmer, Doug Stephan www.eastleighfarm.com introduces us to Dr. Chad E. Hart Professor, Iowa State University Department of Economics Area of Expertise: Agricultural and Natural Resource Economics. Called "Dr. Doom" by some. Heading into 2024, he paints a somewhat more encouraging picture for grain prices than USDA does. When the Iowa State University Extension ag economist spoke to farmers at the Purdue Top Farmer Conference in early January, USDA’s latest estimates for 2024 average prices were $4.50 per bushel for corn and $11.30 per bushel for soybeans. Hart expects strong production, around 15 billion bushels or more, into the near future. Even with good demand for corn for feed and ethanol, it will take rebuilding export demand to move lots of bushels.