Minnesota grain harvest outlook: Record crops, meager prices for farmers

Author:
Updated:
Original:

Minnesota's grain harvest is just around the corner – in fact, the USDA says the earliest soybeans are already coming in.

So, how's it looking this year?

In a nutshell: huge crops, puny prices.

AgriNews notes that the most recent federal forecast predicts the per acre yields and the total crop harvested will break state records for both corn and soybeans.

And that's good for farmers because at today's prices, they'll need to bring a whole lot of bushels to market to break even.

WCCO says corn and soybeans are currently selling for half of their 2012 prices.

Those grains are already stockpiled in U.S bins and prospects for selling the bumper crops overseas are dampened by the strong dollar.

An official with the Minnesota Corn Growers Association tells the station the higher yields may help make up for the low prices farmers will get.

This embed is invalid

On the other hand, there is an upside to the low grain prices, WCCO notes: livestock farmers are benefiting from the affordable feed and the cost of ethanol is low – both of which could help consumers.

Minnesota is not alone in having a good year for crops. Farm Futures reports two-thirds of the nation's corn is rated in good to excellent condition, along with 61 percent of the soybeans.

But Corn and Soybean Digest says crop experts consider Minnesota the "sweet spot" for yields, particularly corn.

Unlike in other recent growing seasons, Minnesota's soil is neither too dry nor too wet this year, with 85 percent of the topsoil and 84 percent of the subsoil rated as adequate.

Next Up

Wikimedia Commons - COVID vaccine, pfizer, shot - Martin G

FDA authorizes Pfizer COVID vaccine for young teens

None of the trial participants that received the vaccine were diagnosed with the virus.

flickr - shopping basket covid

Secret shoppers rate the most COVID-safe stores

Two of Minnesota's largest companies topped the list.

Minneapolis police

Woman found shot dead in Minneapolis parking ramp identified

Police have arrested two suspects in connection with the incident.

ambulance, crash

Victims of triple-fatal Maple Grove crash ID'd as woman, 2 toddlers

The single-vehicle crash happened just before 7 a.m. Saturday, May 8.

Ray McNeary

Charges: St. Cloud bank robber wanted to 'go viral,' become 'a martyr'

Police were in a standoff with him at the Wells Fargo bank for more than 8 hours.

MSU-Mankato hockey, Minnesota State, Mavericks

Minnesota State to host St. Thomas at Hockey Day Minnesota 2022

The newly-formed CCHA will have a marquee matchup in its inaugural season

rocky taconite-silver bay

Six of the weirdest roadside attractions in Minnesota

From a two-story outhouse to a squad car's crash with a UFO, here's a list of some of the state's weirdest attractions.

boys volleyball

MSHSL to vote on adding girls wrestling, boys volleyball tournaments

A two-thirds majority vote is needed to pass the proposals.

restaurant-602894_1280

Shakopee restaurant owner charged with 58 tax crimes

The woman, from Savage, is accused of underreporting sales to avoid tax.

gofundme - abdullahi photo

Second suspect, a 17-year-old girl, arrested in Moorhead taxi driver's killing

Abdullahi Abdullahi was found dead in his taxi last week.

Wild

Big playoff implications for the Wild Monday night

Minnesota wraps up the regular season Wednesday-Thursday in St. Louis.

Related