The production of Minnesota’s field and miscellaneous crops was valued at $14.0 billion in 2023, according to the USDA National Agricultural Statistics Service – Crop Values 2023 Summary. This was down 17% from 2022.
The value of corn for grain production totaled $7.19 billion, down 22% from the previous year. Minnesota’s corn price averaged $4.75 per bushel, $1.52 below last marketing year.
The value of soybean production was $4.37 billion, down 16% from 2022. The average price decreased $1.60 from the previous year to $12.50 per bushel.
The value of production increases from 2022 to 2023 for dry beans and potatoes, but barley, canola, alfalfa hay, other hay, oats, rye, all sunflowers and spring wheat all decreased in production value from the previous year.
The production of Iowa’s field and miscellaneous crops was valued at $20.0 billion in 2023, down 21% from 2022.
The value of corn for grain production totaled $12.2 billion, down 25% from the previous year. Iowa’s corn price averaged $4.85 per bushel, $1.77 below the last marketing year.
The value of soybean production was $7.22 billion, down 13% from 2022. The average price decreased $1.60 from the previous year to $12.60 per bushel.
The value of production increased from 2022 to 2023 for oats.