Sign up for our newsletters Subscribe
"I don't think we've ever seen (corn prices) fall this much," says Gary Schnitkey, an economist at the University of Illinois.
How extraordinary are current conditions? From 1975 to 2006, the cash price for a bushel of corn averaged $2.40, Schnitkey says. In the past four months, the price is down $4. Corn contracts for December delivery at the Chicago Board of Trade closed at $3.85 per bushel Wednesday, down from more than $7.80 in June.