Iowa farmers will face steep challenge turning a profit in 2017
Turning a profit looks to be challenging for Iowa farmers across all sectors in the year ahead, Iowa State University (ISU) economists said last week at a Pro-Ag Outlook meeting in Altoona.
"It doesn’t matter where we look in agriculture markets — crops or livestock, supplies are overwhelming the demand we’ve got," said Chad Hart, ISU crop markets specialist. "Demand really is pretty good, but supplies are gigantic, and prices continue to work their way down."
Iowa farmers brought in record corn and soybean harvests this fall, adding to burdensome supplies that have pushed prices lower. Corn yields in the state are expected to be 199 bushels per acre, and soybean yields are forecast at 59 bushels per acre, setting records for both...
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