Local bids for corn in the Washington area are between $3.60 and $3.70, below the cost of production according to Ryan Drollette, farm management specialist with Iowa State University Extension and Outreach. He says over the past two weeks he’s seen future corn prices rise to almost $4, but the cost of production is closer to $4.20. He adds if a corn producer did not forward market any grain before harvest and are taking the current price they are taking a loss.

A similar story is developing with soybeans. Drollette tells KCII News local soybean prices are at $8.52 with future prices at $8.90, while ISU estimates the cost of production for soybeans at $10.96.