For farmers like Darrell Stamp, 2013 was a corn crop to forget.
A bumper crop created a glut of corn and depressed prices. Making matters worse, China rejected shipments of U.S. corn because of contamination from unapproved genetically modified corn varieties. Prices had crashed 40 percent by the time Stamp sold his crop.
“It was a terrible payout, and we barely broke even,” said Stamp, whose family has been tilling its 3,000-acre spread in Walnut, Iowa, since 1882. “The market really never came back.”