Bank failures, and the related uncertainty in financial markets, only add to the bearish pressures of better weather forecasts and high expenses. That has some farmers and experts forward contracting more of their crop than normal for this time of year.
Counties in Illinois claim six of the top 10 average county corn yields, while Idaho and Colorado boast two spots each. The lowest average yields were found in Kansas, Oklahoma and Texas, areas suffering through prolonged drought.
Brazil could overtake the U.S. as the world s largest corn exporter this year, as a series of record-breaking crops collides with a fresh source of export demand following a trade deal with China.
Gro Intelligence s yield models, which powered the DTN Digital Yield Tour in August, indicate smaller crops may be in the offing than what USDA is projecting. One of the key differences is whether or not Illinois will set a record.
It cost an average of 19% more to raise an acre of corn in 2022 than it did the year before, but thanks to high commodity prices, farmers will mostly remain profitable. High costs are likely to persist into 2023, setting up a riskier bet for income potential.