Who would have thought that we would once again see $3 corn and $10 soybeans? Iowa farmers have not seen such price strength since 1996 for corn and 1974 for soybeans. At the same time, Iowa hog prices have strengthened in recent months; egg prices have more than doubled in the last two years; and cattle prices would be at record highs if U.S. export markets had not closed down as a result of the mad cow disease scare. Even so, cattle prices have hovered around $85.
Babcock, Bruce A.
"Booming Commodities: How Long Will It Last?,"
Iowa Ag Review: Vol. 10
, Article 1.
Available at: http://lib.dr.iastate.edu/iowaagreview/vol10/iss2/1