The preliminary farm value of Michigan field crops produced in 2020 was $3.62 billion, up 47 percent from 2019. Higher prices and production across most commodities resulted in greater total value of production in 2020, according to Marlo Johnson, director of the USDA NASS, Great Lakes Regional Office. Some Michigan highlights from the Crop Values Annual Summary report follow:
- Corn for grain value increased 54 percent to $1.36 billion in 2020. The average price was $4.45 per bushel.
- Soybean value of $1.18 billion was up 93 percent from 2019. The average price was $11.50 per bushel.
- Wheat value decreased slightly to $181 million. The average price was $5.35 per bushel.
- Dry bean value, $185 million, was up 60 percent from last year. The average price was $30.70 per cwt.
Nationally:
- U.S. corn for grain value increased 25 percent to $61.0 billion in 2020.
- Soybean value in the U.S. was up 51 percent to $46.1 billion.
- U.S. all wheat value increased 5 percent to $9.32 billion.
Categories: Michigan, Crops, Corn, Soybeans, Wheat