Bumper corn crop expected for Minnesota farmers as land prices soar


The U.S. Department of Agriculture predicted that Minnesota farmers should harvest 1.4 billion bushels of corn this season, making it the second largest crop in the state's history.

MPR reports that this year's corn harvest will be slightly smaller than last year's record haul because of the cool, wet, late spring in some parts of the state. In 2012, Minnesota's corn harvest was valued at $9.6 billion, up nearly a third from the year before.

Minnesota's soybean harvest is put at about 272 million bushels, making it an average crop. Last year's soybean crop was up one quarter to $3.4 billion.

As a result of the plentiful crops, analysts say the prices farmers receive could be driven lower. MPR quoted David Bullock, senior economist at St. Paul-based AgriBank, thought that corn prices could slip to as low as $4 a bushel in the next few months, half of last year's peak. But he said the average price should settle at around $4.75 a bushel.

Meanwhile, Forum Communications reports that the price of farmland across the Upper Midwest is hitting record heights, according to an annual report issued Aug. 2 by the National Agricultural Statistics Service, an arm of the U.S. Department of Agriculture.

The report shows that land values across the region outpaced the national per-acre price of cropland, which rose by an average of 13 percent in 2013. In Minnesota, cropland rose to an average $4,850 per acre, 19.8 percent more than a year earlier. In North Dakota, prices soared to $1,910 per acre, up 41.5 percent. In South Dakota, values jumped to an average of $3,020 per acre, up 30.2 percent.

The same USDA survey also noted substantial increases in pasture prices, with prices in the Upper Midwest exceeding the U.S. numbers. Nationally, the average value of pasture rose 4.3 percent to $1,200 per acre. In Minnesota, the average pasture value rose 16.7 percent to $1,750 per acre. North Dakota’s average pasture value rose 28.6 percent to $630 per acre.South Dakota’s average pasture value rose 20.3 percent to $710 per acre.

Next Up

emily sands jeopardy

Chanhassen woman wins $73,000 on 'Jeopardy!'

She called it the "coolest experience" of her life.

Anthony Edwards

Where the Wolves' lottery odds stand with 3 games to go

It's likely that Golden State will have a 72.4% chance to get Minnesota's pick.

Kenta Maeda

Twins pull Maeda early, White Sox pummel bullpen

Jose Abreu's two-run homer gave the White Sox a 9-3 victory.

boys volleyball

Girls wrestling sanctioned as MSHSL activity; boys volleyball 2 votes shy

There will be section and state tournaments for girls-only wrestling next school year.

P.J. Fleck

Gopher players defend PJ Fleck after WCCO-TV report

"The public has made our statement," a U of M spokesperson said.

vaccine, covid

Twin Cities police investigating COVID vaccine thefts in viral videos

Videos of both incidents were recorded and shared online.

Guthrie theater

Guthrie to reopen to the public in July, shows resume this fall

The theater has been closed to the public for more than a year.

Target - good and gather plant based

Target is launching more than 30 new plant-based grocery products

All are part of the company's hit Good & Gather brand.

Roller Garden

Roller Garden to auction off skates, signs, arcade games and more

Many items from the beloved Roller Garden will be up for auction next month.