Crop prices during 2011 were influenced by a wide range of factors that resulted in extremely large trading ranges. The price patterns, however, were very different for corn, soybeans, and wheat. As the year ends, thoughts turn to likely price levels in 2012.
December 2011 corn futures started the year near $5.50, with the higher trend that began near $4.00 in July 2010 still in place. The trend continued, although erratically, reaching a peak near $7.80 in late August. Prices have declined sharply since then, with the December 2011 contract currently only about $.30 higher than at the start of the year.
January 2012 soybean futures started the year just below $13.00, with the higher trend that began near $9.50 in July 2010 still in place. The price of that contract traded between $12.50 and $14.00 through mid-August, peaked at $14.74 in late August and then plummeted to $11.00 in late November. That contract is currently trading near $11.40. <Read More>
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