The price of corn has plummeted since it peaked this summer at around $7 a bushel. The price decline is due to the anticipation of the second largest corn crop in history, lower energy prices and the financial markets, said Cory Walters, UK agricultural economist.
With harvest coming to a close, producers are trying to determine whether it would be beneficial to them to store their crop until prices rebound, but no one is sure when and if that will happen. On Oct. 27, December corn futures were selling at around $3.80, and March futures were near $4.
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