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


  • 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

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