Northey: Crop prices should rebound ... eventually

GRUNDY CENTER — Iowa Secretary of Agriculture Bill Northey (R, Spirit Lake) said farmers concerned about lower commodity prices should expect a rebound, though it could be awhile before that happens.
    Speaking at the Grundy County Fairgrounds after participating in the Grundy County Fair’s Everyday Tractor Ride Wednesday, Northey said a lot has changed since corn topped out at as high as $7 per bushel.
    “You look back over time and you think, ‘What’s wrong with $3.25 or $3.50 corn? That’s a lot better price than it was five years ago or 10 years ago,’” he said. “But our costs have gone up. We got used to that $5 or $6 corn and it’s going to take some time to wind the costs back out of that, including likely seeing cash rents needing to go down, seeing land prices needing to soften up.”

For more of this story, see the July 31 Grundy Register.