Statewide corn, soy prices continue downward trend

The average price received by farmers for corn during September 2023 in Iowa was $5.22 per bushel according to the latest USDA, National Agricultural Statistics Service — Agricultural Prices report. This was 55 cents below the August price and $2.20 below September 2022, continuing a downward trend for the grain since June.

The September 2023 average price received by farmers for soybeans, at $13.10 per bushel, was $1.00 below the August price and $1.10 below the September 2022 price, continuing a downward trend for the commodity since July.

All hay prices in Iowa averaged $169.00 per ton in September. This was $8.00 above the August price but $2.00 below the September 2022 price. The September 2023 alfalfa hay price, at $175.00, was $8.00 above the previous month but $6.00 below September 2022. The average price received for other hay during September was $149.00 per ton. This was $9.00 above the August price and $15.00 above September last year.

The average price for milk was $19.80 per cwt, 60 cents above the August price but $2.40 below September 2022. Prices received for milk cows for dairy herd replacement averaged $1,820 per head as of Oct. 1, 2023.