Prices Continue To Drop For Farmers
SPRINGFIELD, Ill. (WICS) —
Farming is coined as the backbone of this area and this year, we are expected to have another great crop. Because of this abundance in crop, prices continue to fall.
This year, corn is averaging about $3 per bushel and soybeans are averaging about $9. Four years ago, corn was nearly $8 per bushel and beans were right around $17. Farmers say low prices are making it difficult to keep up with the cost of seed and fungicides, whose costs have pretty much stayed the same, necessary for a successful crop.
"We're constantly reviewing our management practices, so anytime something new comes in or something in the past, we focus on management how can we handle it to the best of our ability and make it better in the future," said Gavin Pope, a farmer in Menard County.
Farming impacts everything, from food to clothing, so if the farmers continue to finish their year with little to no profit or even losing money, that could mean higher costs for items in the future.