says corn is dirt cheap compared to soybeans. We'll see how this plays out, but the ratio is near 3.2 which is at peak levels according to the forty year charts. Corn is getting mauled as they are expecting to be swimming in it with this year's harvest (back to back bumper crops) and very low cattle feed demand. Sooner or later, though, prices have to be getting near a bottom. Probably not there yet, with more pain to come, but I don't see corn going much below $3 (if it manages to get there).
In the spring of 1981 corn was $3.40/bu. That doesn't include any adjustment for inflation either. If you factor in inflation, the same bushel of corn today would cost $9.18. Also, don't forget that there was no ethanol indistry. This morning a bushel of corn will cost you $3.78 The last time CORN was this cheap was in July 2010. With all the unrest in the world, the demand for food can only grow and it all starts with corn.