Cash Field Crop Industry Snapshot

National:	2021/22	2022/23	2023/24	2024/25 F
Corn Area Harvested (Mil. Acres)	85.0	78.7	86.5	82.9
Corn Yield/Acre (bu.)	176.7	173.4	177.3	179.3
Corn Price ($/bu.)	$6.00	$6.54	$4.55	$4.35
Soybeans Area Harvested (Mil. Acres)	86.3	86.2	82.3	86.1
Soybean Yield/Acre	51.7	49.6	50.6	50.7
Soybean Price ($/bu.)	$13.30	$14.20	$12.40	$9.95

Source: USDA WASDE

Prices for grains and oilseeds have declined significantly since the 2022/23 crop year, and margins are negative for many cash field producers as market prices are not covering total production costs.
Corn and soybean prices further weakened last quarter amid trade and biofuel policy uncertainty and a record-large South American soybean harvest. A weaker U.S. dollar helps export prospects but is not significant enough to offset other bearish market influences.
Spring planting intentions suggest that U.S. farmers will plant significantly more acres to corn and less to soybeans and wheat, with corn offering the greater profit potential. Margin opportunities remain slim however, with prices of major row crops at four-year lows.
May 2025 corn futures are trading at $4.90/bu, and May soybean futures at $10.43/bu, as of April 14, 2025.¹

¹ CBOT Futures