High Corn Yields Offset By Expenses, Down Prices

Ohio corn farmers might be producing more crops, but the boom in supply and higher expenses are driving down profits. Most farmers are reporting they are producing more bushels this year, but the price they're able to get for the commodity has been roughly cut in half compared to last year. Western Ohio farmer Tom Tullis says he regularly saw corn prices as high as $6.50 or $7 per bushel as late as last year. But prices this year have been closer to $3. At the same time, operating costs such as machinery and fertilizer have remained high. Experts predict most farmers will have enough assets to withstand a tough year or two.