USDA's crop progress report for the week ended May 1 reported 14% of corn crops planted, a little more than a quarter of the 42% reported planted by this time in 2021.
Current USDA forecasts show declines in U.S. average farm prices for major U.S. field crops—corn, soybeans, wheat, and cotton—of 4 to 19 percent in 2014/15. For corn, soybeans, and wheat, this would be the second consecutive year of declining prices.
USDA reported this morning that corn production fell slightly below the ag agency's September forecast and soybean production is 9% higher than it estimated last month.
When farmers' income is up and debt generally low, farmers invest in new equipment. And right now, farmers in the U.S. and around much of the world are enjoying boom times.
Executive editor Kim Schmidt checking in from Farm Equipment headquarters with an update on 2025 Dealership Minds Summit set for July 29-30 in Iowa City.
The program is out. Check it out at DealershipMindsSummit.com.
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