Corn Cost: Dry Spell Sends Corn & Bean Prices Soaring - Siouxland News - KMEG 14 and FOX 44

Corn Cost: Dry Spell Sends Corn & Bean Prices Soaring

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HINTON, IA -

The high heat that's been sticking around isn't just affecting us, the corn and beans are feeling it as well.

These conditions have sent the prices for those commodities through the roof.

No rain and high heat is to blame for sending corn to more than $8 a bushel and beans to more than $17 a bushel Thursday.

Those high prices mean you shouldn't be surprised the next time you head to the grocery store.

"Every year it's dry somewhere," said Darwin Franzen, General Manager & CEO of the Farmers Cooperative Company and Floyd Valley Grain in Hinton, Iowa.

After nearly 40 years in the agriculture industry, Franzen knows what it's like to depend on "Mother Nature."

"Unfortunately she's just not cooperating this year," said Franzen.

Iowa's corn and bean crops have been in the ground for months, and with high heat and next to no rain those crops are cooking.

You can feel it all the way from the field to the grain elevator.

Prices have been going up for weeks.

According to the Chicago Board of Trade, on Thursday September delivery corn soared to more than $8 a bushel and August soybeans were up to more than $17 a bushel.

Both commodities were more than $3 dollars higher than just a few months ago.

Farmers aren't the only ones feeling the heat.

What's happening in the fields might affect you the next time you're hungry.

"I think up and down Main Street, Sioux City and Le Mars and the other communities that we serve in, those folks are going to notice this as well," said Franzen.

It's all because of where most of that high priced feed goes next.

"It's just tough to feed $7, $8 corn to a sow herd and produce swine," said Franzen.

When it costs more to raise the livestock, it costs more at the grocery store.

But for the rest of the season everyone in the industry, Darwin included, just have to keep holding out for a few inches of rain.

"Farmers are an optimistic group," said Franzen. "Next year will be better."

The dry weather isn't just hurting corn fields, lawns and gardens are burning up too.

Iowa State University Extension's hoping to help with a free web-inar on Friday, July 20th.

If your lawn or garden needs some help, head on over to this web site for more information: 

http://www.extension.iastate.edu/article/july-20-webinar-looks-horticulture-needs-during-drought

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