Ohio Farm Yields Down, Prices Near Historic Highs

Farm Science Review visitors walk along Friday Ave. viewing exhibits.(Photo: Tom Borgerding / WOSU)
Farm Science Review visitors walk along Friday Ave. viewing exhibits.(Photo: Tom Borgerding / WOSU)

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.

 

“Every farmer you see out here has fields that look great and have done great,” Roberts says.  “Every farmer has fields that have done very poorly, some of which they were taking canoes through as late as June.”

 

Roberts says worldwide supplies are tight for both corn and beans this year. And it’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.

 

“When we’re talking about prices of $6, $6.50, $7 corn; $14-plus soy beans; those are very, very attractive prices,” Roberts says, “This is the second time we’ve hit them in history.  These are very attractive, very profitable.”

 

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.

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