Economist: Corn, soybean prices hold steady but could drop this fall

Corn and soybean prices seem unlikely to fall this summer in the face of strong global demand — and could rise if threatening weather conditions at the edges of the U.S. Corn Belt spread, according to Chad Hart, a professor of economics at Iowa State University.

Severe drought conditions continue to affect swaths of the eastern and western U.S., according to the U.S. Drought Monitor, but have so far spared most of the central corn- and soybean-producing states. Some Corn Belt farmers, on the other hand, have experienced localized flooding — but not enough to significantly affect U.S. crop production, Hart said.