According to a recent report by the USDA, the value of field crops in the United States dropped by over 18 billion dollars from 2012 to 2013.
Experts cite a decline in corn and soybean harvests during the drought of 2012, causing record highs in crop prices. But in 2013, an abundance of grain, in addition to a the record 13.9 billion bushels of corn and the third-largest soybean crop to date, all combined to send prices downward. This week at its Agricultural Outlook Forum in Arlington, Va the USDA is expected to release an updated price estimate.
Which states have the highest crop values? Here are the top 5 crop values:
Illinois: $16.18 billion;
Iowa: $15.86 billion
Nebraska: $11.93 billion
Minnesota: $11.74 billion
Indiana: $8.33 billion.