Last year's Minnesota corn crop comes in at record $7 billion

Even though production was down, Minnesota's corn crop was worth a best-ever $7 billion. The estimate from the U.S. Department of Agriculture tops the previous record the year before. The state's soybean crop was down 13 percent from 2010.
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Even though production was down, Minnesota's corn crop was worth a best-ever $7 billion. The estimate from the U.S. Department of Agriculture tops the previous record the year before. The state's soybean crop was down 13 percent from 2010.

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Minnesota's cornfields will average 168 bushels an acre this year, according to the U.S. Department of Agriculture. The Pioneer Press reports this would be Minnesota's largest corn crop in state history and make the state the second largest corn producer in the country -- only trailing Iowa.

Minnesota crops weather the storms

Most of Minnesota's corn and soybean crops continue to thrive, despite last week's torrential rain and destructive weather. The U.S. Department of Agriculture reports 83 percent of Minnesota corn is rated in good or excellent condition. As for soybeans, 74 percent of the acres are in good or excellent shape.

USDA: Minnesota farmers will plant seven percent more corn in 2012

However, soybean and wheat crops will drop as much as eight percent because corn is more profitable. Minnesota's corn crop was valued at $7 billion last year. Corn planting is also expected to increase about four percent nationwide.

Minn. will have nation's best corn crop, USDA says

The rest of the country will be looking to Minnesota to help fill its corn bins this fall. A new crop estimate from the USDA says the national corn harvest will be 13 percent smaller than last year. But up here where the drought is not as devastating, we're expecting to bring in 7 percent more than last year. And the sugar beet forecast is up a whopping 43 percent.

Strong start for Minnesota corn and soybean crops

According to the USDA's first official assessment of the season, nearly 100 percent of the state's record 8.7 million acres of corn is now planted. As of Sunday, 81 percent of the soybean acres were also planted.

Farmers making progress on early corn and soybean harvests

It's only mid-September, but the U.S. Department of Agriculture says 12 percent of Minnesota's corn crop is already harvested. The Pioneer Press notes that is roughly three weeks earlier than last year. The soybean harvest is also well ahead of the five-year average with 16 percent complete.

Minnesota corn growers cashing in

State farmers will benefit in two ways: drought has helped to drive corn prices higher, and Minnesota farms are producing high yields compared to farms in other states, where dry conditions have shriveled crops, WCCO reports.