Nov. 23—ANDERSON — Area farmers are pleased with their harvest this year in both corn and soybeans, but they’re also closely watching prices.
Both corn and soybean prices have been fluctuating regularly and are below estimates for the 2024 harvest.
The 2024 harvest price for corn is $4.16 per bushel, $0.50 or 11% lower than the projected price of $4.66. The 2024 harvest price for soybeans is $10.03 per bushel, $1.52 or 13% below the projected 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 the soybeans were also a good harvest,” he added.
Bohlander said the soil in much of Madison County is better than in other areas of the state.
“The price is better than when we started to harvest,” he said.
Bohlander said farmers with bins can store their crops and wait on better prices; store the crop at an elevator; or contract for distribution at the time of the harvest.
“There are a lot of options,” he said. “It will be interesting to see what happens with a new administration in Washington and events taking place around the world. A lot of people are taking a wait-and-see attitude.”
Brian Bays said Madison County farmers realized a good crop in 2024.
“Corn was better than anticipated, but beans were also a good crop this year,” he said.
Bays said prices have fallen, adding county farmers are looking at record yields, but that revenues will be down.
“In 2022 we had lower yields, but the revenues 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 the worst option was a cash sale at the time of the harvest.
“Grain prices have recovered some since then,” he said.
Follow Ken de la Bastide on Twitter @KendelaBastide, or call 765-640-4863.
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