Corn, soybean prices trading at highest price since 2013

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SIOUX CITY, Iowa (KCAU) — If you go grocery shopping, you may soon notice a change in price on your favorite foods. Corn and soybean prices are trading at its highest price in nearly a decade.

According to Business Insider, corn is trading at its highest price since April 2013 and soybeans are trading at its highest since October 2012.

Dr. Annie Kinwa-Muzinga, an Agribusiness professor at Morningside University, said an increased demand from China is helping the price go up.

She also explains how the increased prices are a result of factors that are out of farmers control.

“Within our U.S., we have a really slow planting from Midwest, mainly with cold temperatures. So that also supports the price we see right now.”

Professor Muzinga said dry conditions in countries like Brazil also have an affect on current prices.

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