U.S. farmers harvested more corn in 2013 than in 2012, while the soybean harvest declined slightly, according to USDA reports released Friday.
In 2013, Illinois farmers saw the best soybean yields in the nation, outpacing the soy heavyweight of Iowa. In 2013, the state of Illinois reported 49 bushels per acre, while Iowa farmers only got 45 bushels per acre out of their fields last year.
Illinois corn growers also brought in an impressive crop after the crippling drought of 2012. Corn yields in 2013 came in just 2 bushels below the state's record high of 180. Last year 18 states, from Michigan to Florida to New York, reported record high corn yields. Much of the Midwest battled drought in 2012 and in many areas, emerged from its grip in 2013.
Though corn prices are expected to drop in 2014 from the record highs of the last decade, the large 2013 corn and soybean harvests shouldn’t send the markets plummeting yet, according to USDA statistician Mark Schleusener.
"Compared to what the industry expected, there was less in storage than what was anticipated,” Schleusener said Friday. “As a result, the futures prices for corn and soybeans are up."
READ MORE: USDA 2013 Crop Production Report (.pdf)
