US corn prices may be rising again as prices that have soared 70% since June may increase again with the release of the recent USDA's November Crop Production Report.

Corn prices increased drastically when the October government crop report reduced the expected US corn harvest. "The market's going to ration demand," an analyst said.

What makes a smaller harvest more critical is the fact that the amount of corn left over from last year's harvest which was approximately 1 million bushels is less than 2009's carryover total, he said.

"Corn is definitely more profitable for farmers. At prices ranging from US$5.50 to US$6 a bushel, farmers can lock in good prices," said Patrick Kirchhofer, manager of the Peoria County Farm Bureau, who expects more corn acres to be planted across Illinois in 2011.

"A lot those new corn acres will come at the expense of soy," he said.

Some analysts forecast that corn prices could increase to as high as US$7 a bushel, another analyst said.

Prices are one reason that could drive more corn production in the state but another is the warm fall weather being experienced across the area, said Tim Lenz, president of the Bloomington-based Illinois Corn Growers Association, adding that area corn farmers are in "a sweet spot" right now.