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According to the United States Department of Agriculture, about
a third of the corn crop has been harvested in Illinois, which
is in line with the 5-year average. The soybean crop harvest is
ahead of schedule with just over 40% harvested. That is compared
to the 5-year average of 28%.
Eric Beckett with Illini FS told the Illinois Soybean
Association that some corn yields may be affected from less than
ideal spring weather.
“I’ve seen some corn that has probably been off by as much as 30
bushels because of stressors,” said Beckett. “Beans are starting
to come out, and I think especially with the rain we had and the
dry weather, we will start to see a lot. Probably be
gangbusters, if you want to say.”
The USDA predicts corn production will be down 1% from last
year, but soybean growers are expected to increase production as
much as 10%.
In 2022, commodity prices spiked. Corn futures peaked at more
than $8 per bushel, and soybeans climbed to nearly $18 per
bushel, but those figures have come down to earth. Corn is
trading at around $4 per bushel and soybeans are under $11 per
bushel.
According to the Illinois Department of Agriculture,
agricultural products generate more than $51 billion annually
with 40% of the total coming from crop production alone.
Illinois is the top producer of soybeans in the county, and the
No. 2 producer of corn.
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