February 15, 2024
Ag Economy
Cash Field Crop Industry Snapshot
USDA Crop Forecast:
| National: | 2021/22 | 2022/23 | 2023/24 F |
| Corn Area Harvested (Mil. Acres) | 85.0 | 78.7 | 86.5 |
| Corn Yield/Acre (bu.) | 176.7 | 173.4 | 177.3 |
| Corn Price ($/bu.) | $6.00 | $6.54 | $4. |
| Soybeans Area Harvested (Mil. Acres) | 86.3 | 86.2 | 82.4 |
| Soybean Yield/Acre | 51.7 | 49.6 | 50.6 |
| Soybean Price ($/bu.) | $13.30 | $14.20 | 12.75 |
Source: USDA WASDE
- Prices for grains and oilseeds have declined from last year, with March 2024 corn futures trading at $4.43/bu, and March soybean futures at $12.27/bu.1
- Fertilizer availability has improved, and prices have fallen significantly, although they generally remain higher than the 5-year average, depending on the type of nutrients.
1 CBOT Futures
Tags: cash field
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