Record Setting Harvest could Lower Food Prices, according to USDA

OMAHA (KPTM)- New predictions show that this year's corn harvest may be a record for local farmers. The USDA said it expects the largest amount of corn and soybeans to be harvested in 2014. A great harvest can drive down food costs, but local experts said don't expect to see prices drop right away. "Unfortunately this time there are a couple other factors that are messing into that which is the California drought and the spring kill out in Western Nebraska, Wyoming," said Ken Stoysich, of Stoysich House of Sausage. Stoysich said meat prices should drop around February and the quality of meat should rise. "I'm looking forward to the good quality product that we're going to have the next few months," said Stoysich. Stoysich said the cost of meat has been rising steadily all summer and will plateau for the next couple of weeks. "It's basically supply and demand. The supplies are very short, demand keeps growing, so the prices have to keep going up," said Stoysich. Representatives at the Nebraska Corn board told FOX 42 that the large amount of corn harvested could drive down the cost of fuel. "You'll see a lot more relief than you do now," said Stoysich.