Northwest Iowa — With corn prices in the basement for the third consecutive year, many area farmers are concerned that the predictions of this year’s corn crop, nationally, being the largest ever may drive corn prices even lower.
On the plus side, exports for corn are picking up, according to USDA Economist Bryce Cooke. For Iowa’s other top crop, soybeans, Cooke says national exports for June came in at $432-million.
Overall, Cooke says July’s total export value came in at 10-point-6-billion dollars, led by a jump in soybean sales. However, he says the picture isn’t nearly as bright when comparing the value of the two commodities to the numbers from 2015.
Cooke also looked at volume, which is starting to show signs of slipping.
Total U-S exports are down 11-percent compared to a year ago. Due to the low commodities prices and rising input costs, some area farmers may face spending more than they earn this year.
