US maize prices close to production
Cash prices per bushel average about $3.74 (€2.79), and agronomists calculate the break-even price at $3.40.
In July, maize futures at the Chicago Board of Trade were close to $8 per bushel, but have fallen to almost $4, after a drop of 30% in recent weeks.
The low prices will hit acreages if they continue into next year, when the break-even would likely be above $4, although it varies by location, depending on yield potential. The outcome could depend more on the trend in fertiliser costs, which are extremely high at present, than on maize prices.
