The price of corn is dropping as farmers work to plant this year’s crop.
The South Bend Tribune reports that about 70 percent of the corn crop was expected to be planted by this past weekend, confirming the market’s expectations for a large harvest.
The price per bushel fell about 20 percent last week.
While planting is slightly ahead of schedule nationally, lingering cold and snow has delayed planting in some northern states like Wisconsin, Michigan and Minnesota, where farmers have planted only about half as much as usual for this point in the season, the Tribune reports.
Wheat, soybean and oat prices also fell last week because of better outlooks for South American harvests and the influence of a strong U.S. dollar.