According to Richard Brock of Brock Associates, who spoke at the U.S. Poultry & Egg Association's Economic Outlook Conference, corn prices will slow and then decline, though how much isn't yet known.

While prices are currently at record highs, the market will "fall hard and fall fast" once it turns, said Brock. "Big bull markets have always been followed by big bear markets," he said. Right now, price forecasts sit at $4.75 to $5.75 with 154 bushels per acre (2010/2011) and $4.20 to $5.50 with 66 bushels per acre (2011/2012).

Advertisement

Brock also warned that more than supply and demand affects prices, pointing out that investments in commodity index funds might be having a significant impact. Regulations, he said, are needed to control the size of the funds.