2014 in corn, soybean, and wheat

Jan 02, 2015

All three field crops saw mid-year dips in prices

By Diego Flammini, Farms.com

Winston Churchill once said “the farther back you can look, the farther forward you can see”. Before looking at what 2015 has in store as far as wheat, soy, and corn are concerned, we should take a moment to reflect on the year that was 2014.

Corn
Iowa, Illinois, Nebraska, and Minnesota make up The Corn Belt of the United States as they’re responsible for almost half of the total corn grown in the U.S. Between April and mid-May, corn saw its strongest prices, creeping above $5.10 per bushel. A steady decline between June and October put the crop at its lowest price, under $3.30 per bushel. Corn’s final 2014 price in December closed at just over $3.90 per bushel.

Average price of corn 2014

Wheat
The wheat average seemed to increase in 2014 as the weather improved. In February, wheat was at $5.60 per bushel. It reached its peak in May, selling for as high as $7.40 per bushel. As May turned to June, the price declined until its final closing price of around $5.40 per bushel.

Average Price of Wheat 2014

Soy
With states like Illinois and Iowa producing most of the soy in the United States, the crop reached its peak price in May, going for $12.75 per bushel. Soy dropped between July and October, bottoming out at below $9.25 per bushel before seeing a small increase in November and closing the year at just over $10.75 per bushel.

average price of soy 2014

“2014 set a record year for grain production in the US but brought with it lower prices and the same should be expected for 2015 depending on weather and demand,” said Moe Agostino, Chief Community Strategist Farms.com Risk Management. “2014 also brought a record year for prices in the livestock sector but do not expect this to continue in 2015.”

Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.