The price of corn has risen over the past several months, due to a variety of factors including the total acreage of crops, mid-season droughts and increasing costs for food production. It is because of these changes that farmers are relying much less on government subsidies, possibly marking an end to many of these programs, The Wall Street Journal reported.
A price-support formula is usually applied to the individual farmers and their total acreage of crops, but the rising costs of each of the commodities that are grown have led to a shrinking of this type of program, according to the news source.
"We don't envision farmers here ever seeing a price-support check again," Darrel Good, a University of Illinois economist, told The Journal. "It's the end of an era."
Tom Sloan, chief executive of Sloan Implement, a company that sells John Deere tractors, noted that his company was experiencing their best year ever due to the crop prices, the news source reported.
John Deere tractors are available in a variety of new models, ranging from the latest in Sub-Compact utility to Row-Crop versions, according to the company website.
High crop prices may be the end of farm subsidies
The price of corn has risen over the past several months, due to a variety of factors including the total acreage of crops, mid-season droughts and increasing costs for food production.