USDA releases crop production forecast

DES MOINES — The U.S. Department of Agriculture released its crop production forecast Monday.

Based on yields as of Aug. 1, the report said Iowa’s corn production was forecast at 2.58 billion bushels, 2% more than last year, with soybeans at 608 million bushels, a 6% increase from 2023. For corn, yields are expected to average 209.0 bushels per acre, up 8.0 bushels from last year, while soy is forecast at 61.0 bushels per acre, 3.0 bushels higher than 2023.

The numbers reflect a major jump in expected yields in a year marked by regular rainfall compared to last summer’s drought. Some farmers have expressed concern over the growing season that widespread, high-yield harvests could hurt their bottom line.

“The crops look pretty good throughout the Midwest, and corn and bean prices are down to about as low as they’ve been in four years,” said Washington County Farmer Jim Cuddeback. “Commodity prices are definitely a concern, because it looks like we’re going to have a pretty good crop.”

The latest monthly price report from the USDA, released July 31, showed grain prices remained low in June, with corn selling at $4.60 a bushel, and soybeans at $11.70 a bushel, $1.97 and $2.50 below their respective prices at the same time in 2023. The report also showed hay prices dropping from month to month in 2024.

Crop conditions, meanwhile remain mostly good or excellent for 77% of corn and soybeans across the state, according to the latest USDA Crop Progress Report on Aug. 12. The report said 99% of corn in Southeast Iowa had reached silking, 71% reached the dough stage, and 17% had reached the dent stage. For soybeans, 96% of Southeast Iowa’s have bloomed, while 79% have set pods, according to the report.

The next crop production report is scheduled to release on Sept. 12, based on conditions up to Sept. 1, according to the USDA.

Comments: Kalen.McCain@southeastiowaunion.com