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I thought the previous five years were difficult. From January of 2015 through the end of 2019, Iowa cash corn prices averaged $3.35/bushel, a figure less than production costs for most Midwest producers. Yes, we had price rallies, but they were, in hindsight, short-lived. There were several long periods with cash prices below $3.20/bu., while the chance to sell $4 cash corn was limited to 7 weeks in the summer of 2019.   I thought the period 2015-2019 was difficult, and then came a pandemic in 2020. From mid-March to the end of August, cash corn prices averaged less than $3/bu. and never rose above $3.20. Then, from the ashes of a Covid-19 disaster, sprang one of the best harvest price rallies we’ve seen in over 50 years. Cash corn prices will end the year above $4/bu.

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