Corn prices rising again on unexpectedly strong demand

But equally large production figures should prevent significant price hikes, economist says.

Yellow corn kernels scattered next to $20 bills on white background
shawn_h | BigStock.com

Corn prices have begun to tick upward again after plummeting last month, despite record corn production in the U.S. But overall feed costs should remain reasonable, according to Iowa State University economist Chad Hart.

U.S. corn exports from September to January have likely exceeded 1.3 billion bushels, according to the U.S. Department of Agriculture (USDA), up 100 million bushels from last month. The strong export figures added a few cents per bushel to the cost of corn last month, and the upward creep is likely to continue because demand shows no sign of letting up anytime soon.

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