"There was a period of time in the early 2000s when producers were transitioning from non-genetically modified-type seed products to GMO types of seed products, which generally are more expensive.," said Alan Miller, a farm business management specialist. "Then we had the rise in commodity prices. And, recently, we've had two extremely difficult seed corn producing years in a row in the Corn Belt."
According to Miller, prices are expected to rise 5 to 7 percent for seed corn, 7 to 10 percent for seed soybeans, and more than 10 percent for wheat seed. In dollars, that means a bag of corn seed would sell for between just under $200 to more than $300. Soybean seed would go for about $50 a bag, with wheat seed priced in the low $20s per bag. And the profit picture? Should be very good, he said, but he's no weatherman.
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