Iowa (RI) — While the USDA’s September outlook predicts this year’s corn crop could set a record in Iowa and across the Midwest, economist Chad Hart at the Iowa State University Extension says the boost is largely due to more acres planted this year, not yields.
Hart says the USDA’s report in October will reveal how much disease and drought are affecting US corn production. While corn exports continue at a record pace, Hart says soybeans face a dire downturn and an uncertain future, as higher soybean yields are expected, but their destination is a big question mark.
The big gap is China, which has stopped all official purchases of American soybeans since February in retaliation for US tariffs. China had been buying up to 60 percent of all US soybean exports. Iowa Secretary of Ag Mike Naig says he’s advocating for market expansion with the Trump administration.
Soybean and corn prices remain well below production costs, with soybeans selling for about one-third of what they brought just a year ago.
(Rachel Cramer, Iowa Public Radio)
KIWA Staff Photo
