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Ohio Farm Yields Down, Prices Near Historic Highs
Ohio’s corn and soybean farmers this fall will keep close watch on their fields. Late plantings caused by spring rain delays mean later harvests. Ohio State University Agricultural economist Matt Roberts says this will be the second consecutive year of lower crop yields.
â€œEvery farmer you see out here has fields that look great and have done great,â€ Roberts says.Â â€œEvery farmer has fields that have done very poorly, some of which they were taking canoes through as late as June.â€
Roberts says worldwide supplies are tight for both corn and beans this year. And itâ€™s uncertain whether prices will fall during harvest. So some farmers are taking advantage of the markets rather than store grain this fall to sell next year.
â€œWhen weâ€™re talking about prices of $6, $6.50, $7 corn; $14-plus soy beans; those are very, very attractive prices,â€ Roberts says, â€œThis is the second time weâ€™ve hit them in history.Â These are very attractive, very profitable.â€
Industry groups estimate the value of Ohio’s corn and soybean crops at more than one billion dollars each. Roberts made his comments at this year’s Farm Science Review in Madison County.