(SPRINGFIELD) After the three most profitable years in history, Illinois corn and soybean farmers are bracing for a slowdown in 2024, not only because commodity prices have tanked, but also because demand from China and other importers has yet to catch up, plus grain bins on farms are mostly still full of last year’s unsold corn. Many ag economists around the country agree that according to the current projected prices for corn and beans next fall, both crops in Illinois look to lose money this year, with corn likely to lose more.
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