Start Date

28-11-2012 12:00 AM

Description

Despite the drought, the agricultural crop sector continues to record breaking crop values. Even though corn and soybean production fell dramatically in 2012, both corn and soybeans will set records in terms of the values of the crops due to the high prices being received. A decade ago, the corn crop was worth $20 billion. The 2012 corn crop is currently valued at over $80 billion. In 2002, the national soybean crop had a production value of $15 billion. The current crop is valued at nearly $45 billion. So crop agriculture continues to produce significant economic value, even as the rest of the economy has struggled to grow.

DOI

https://doi.org/10.31274/icm-180809-83

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Nov 28th, 12:00 AM

2013 Crop market outlook

Despite the drought, the agricultural crop sector continues to record breaking crop values. Even though corn and soybean production fell dramatically in 2012, both corn and soybeans will set records in terms of the values of the crops due to the high prices being received. A decade ago, the corn crop was worth $20 billion. The 2012 corn crop is currently valued at over $80 billion. In 2002, the national soybean crop had a production value of $15 billion. The current crop is valued at nearly $45 billion. So crop agriculture continues to produce significant economic value, even as the rest of the economy has struggled to grow.

 

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