Another year has passed and another set of large crops has been grown. Crop demand has remained robust for the most part. And as in previous years, season-average prices have generally fallen slightly below breakeven.
It’s amazing how many things can change but the general story remains the same.
The early projections for the 2019 crop year show that corn and soybeans will dominate the landscape once again, as other commodities are still finding it difficult to compete for land. The trade issues with China have made corn look to be the more attractive crop for the coming year.
But optimism remains in the markets for the future. Current futures show higher prices the further out we look.
The big question for the year may be whether that optimism sets up another set of large crops that overwhelm usage.
For Iowa, 2018 was another strong production year. The average corn yield is estimated to be above 190 bushels per acre once...