U.S. Secretary of Agriculture Tom Vilsack says huge corn and soybean crops have pushed prices below the cost of production but he’s not worried about farmer profitability this year.

Tom Vilsack - Agriculture Secretary - Photo: Associated Press

Tom Vilsack – Agriculture Secretary – Photo: Associated Press

Many U.S. farmers have contracts for $4 of $5 per bushel of corn and around $13 for a bushel of soybeans.

Vilsack also notes that lower commodity prices will help livestock producers, who in recent years have struggled with high feed costs.

For those who won’t earn enough to cover their costs, he notes the farm bill offers aid so farmers can endure difficult years.