Nov. 23—ANDERSON — Area farmers are pleased with their crops this year, both corn and soybeans, but they are also keeping a close eye on prices.
Prices for both corn and soybeans fluctuate frequently and are below estimates for the 2024 crop.
The 2024 crop price for corn is $4.16 per bushel, $0.50 or 11% lower than the expected price of $4.66. The 2024 soybean crop price is $10.03 per bushel, $1.52 or 13% below the expected price of $11.55.
“We had a pretty good year,” said Cory Bohlander, vice president of the Madison County Farm Bureau. “The yields were good and the weather was good.
“The corn crop was better than expected, above the state average of 200 bushels per acre, and soybeans were also a good crop,” he added.
Bohlander said the soil in much of Madison County is better than in other parts of the state.
“The price is better than when we started harvesting,” he said.
Bohlander said farmers can stockpile their crops and wait for better prices; store the crop in an elevator; or contract for distribution at the time of harvest.
“There are a lot of options,” he said. “It will be interesting to see what happens with a new administration in Washington and the events happening around the world. Many people are taking a wait-and-see approach.”
Brian Bays said farmers in Madison County had a good harvest in 2024.
“Corn was better than expected, but beans were also a good crop this year,” he said.
Bays said prices have fallen, and farmers in the province are looking at record yields, but incomes will decline.
“In 2022 we had lower yields, but yields were higher because of the price,” he said. “The price of corn is down 40% from that level.”
Bays agreed that local farmers have several options, but added that the worst option was a cash sale during harvest.
“Grain prices have recovered somewhat since then,” he said.
Follow Ken de la Bastide on Twitter @KendelaBastide, or call 765-640-4863.
