The preliminary farm value of Indiana field crops produced in 2020 was $8.45 billion, up 44 percent from 2019. According to Nathanial Warenski, State Statistician of the USDA NASS, Indiana Field Office, the total value of Indiana state production increased due to higher total production and prices of corn, soybeans, and wheat.
Some Indiana highlights from the Crop Values Annual Report include:
– Corn for grain value was up 40 percent to $4.37 billion in 2020. The average price was $4.45 per bushel.
– Soybean value increased 54 percent to $3.76 billion in 2020. The average price was $11.40 per bushel.
– Wheat value was up 16 percent to $92.8 million. The average price was $5.30 per bushel.
– 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.
– All U.S. wheat value was up 5 percent to $9.32 billion.