Crop Prices Dropping - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Crop Prices Dropping

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 Harvest is only a few months away. 
With pay day right around the corner...many farmers are wondering what their crops will be worth. 
Ag Reporter Sarah Heinrich digs into the falling prices on the board. 

Crop prices have been dropping for months.
(Eugene Graner / Heartland Investor Services) "This trend is very pervasive. We could easily by October find corn, cash corn at $2.85, cash soybeans at $8.50."
A hard hit compared to when corn was more than 7 dollars in 2012.
Eugene Graner with Heartland Investor Services says it's only going to get worse before it gets better.
(Eugene Graner / Heartland Investor Services) "For the past couple of years the futures price never went below 4 dollars. That is where the market bought it from and recovered from that. Now putting the grain in the bin come harvest time if you have done no forward sales couple be painful because until we see a weather problem around the world or the federal reserve crashes the U.S. dollar, Grain prices don't have a lot of reason to rebound at this time." 
While wheat and corn have been on a steady decline....
John Sandbakken with the National Sunflower Association has hopes for the sunflower price.
(John Sandbakken / NSA Executive Director) "Seed supplies are going to be really tight by the end of September and acreage for Sunflower was odd that it came in right at the middle. Industry people were estimating 1.6-1.8 million acres, we came in at 1.7. It's right within expectations. There was no surprise as some of the crops got in their reports. I'm thinking prices are going to stay pretty firm throughout the year, it is going to follow the market to some extent, but it's not going to have that drastic drop that we have seen in some of the other commodities." 
Graner says there's still a chance for farmers to do some forward hedging and lock in prices before the market drops even further.
(Eugene Graner / Heartland Investor Services) "Farmers have had the least amount of forward hedging for new crop that they have had in 4 years. This is causing the market to bounce much because of so much willing to sell above it. The market knows people are want to sell it so the bounces are 20 cents on the 10 corn and down it goes. "

North Dakota experienced the largest increased in sunflower acreage for the entire U.S.
695-thousand acres were planted in the state this spring. 
That's up 39% from last year. 
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