These long term price forecasts will provide good starting points, we all know that weather, world conditions and other factors will change these forecasts continually over the next five years.
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The Agricultural Act of 2014 (the 2014 Farm Bill) requires owners and/or tenants to elect either the new Agricultural Risk Coverage (ARC-CO or ARC-IC) or Price Loss Coverage (PLC) programs for each covered commodity on their farms. The MSU 2014 Farm Bill Analyzer provides farm management information on the yield update, base reallocation, and ARC versus PLC decisions based on assumptions about farm yields, county yields, and Five Year Forecasts of National Market Prices. Given the inputted variables listed above, the MSU 2014 Farm Bill Analyzer will calculate the consequences for the farm manager’s alternative decisions regarding yield updates, base reallocation and the election of ARC-CO, ARC-IC, or PLC programs.