Feds expect Iowa’s corn yields to hit record — but not prices

Iowa farmers are projected to harvest a record amount of corn per acre this year, now that a four-year drought has ended, according to the U.S. Department of Agriculture.

The department estimated in August that corn yields will average about 209 bushels per acre. That would exceed the record set in 2021 of 204 bushels per acre.

The long-running drought had diminished crop production since 2020 and culminated in the worst overall soil dryness ahead of planting season early this year. But total precipitation so far ranks 2024 as the 10th-wettest on record, according to Iowa State University data.

Iowa corn farmers are expected to harvest about 2.58 billion bushels for grain. That would be the state's third-largest haul — the total acres of planted corn is about 200,000 fewer than last year.

"The last couple of years were challenging because we were so dry, so the fact that we've had decent rain throughout the growing season has definitely helped people be optimistic," said Rebecca Vittetoe, an ISU Extension field agronomist who monitors East-Central Iowa. "We've got decent-looking crops in general, but when you add the prices to that, it takes away some of that excitement."

The standard price for corn dipped below $4 per bushel in July and continues to drop. That's half of what it was in 2022 and is the lowest in four years.

Soybean prices also are down to a four-year low, to less than $10 per bushel. They were $17 per bushel in 2022.

Iowa soybean fields are expected to generate an average of about 61 bushels per acre, according to the USDA report. That is shy of the record average yield of 63 bushels in 2021.

Vittetoe said crop fields in Eastern Iowa have been punished by a recent heat wave and lack of rainfall. Corn leaves have curled and soybean leaves have turned over to help conserve moisture.

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