AABP EP Awards 728x90

Iowa farmers losing money on corn, soybeans

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

A new analysis of federal statistics showed Iowa farmers this year will lose money on corn, the state’s leading grain crop. The National Agricultural Statistics Services data showed it cost $3.48 per bushel to grow corn, but it’s been selling for $3.30 a bushel, down 6 percent from the year before. For the second time, Iowa is expected to average more than 200 bushels an acre, even as trade embargoes and oversupply depress prices. Soybeans cost $9.46 a bushel to produce and are selling for $9.34 a bushel. Some farmers may hold on to their grain looking for better prices, said Dave Miller, Iowa Farm Bureau Federation director of research and commodity services.