With the harvest season finally wrapped up for 2019 after countless weather disruptions, farmers are now able to take stock in how their crop fared this year.

Steve Johnson, ISU Extension Farm Management Specialist for Central Iowa, says the initial harvest results have shown that corn yields are much larger than anyone could have anticipated given all the hardships. He clarifies, that still puts corn at about average for the last five years, but says many farmers felt some relief that it wasn’t worse. On average there were 192 bushels an acre of corn. Soybeans on the other hand didn’t fare so well, coming in at 53 bushels an acre, much lower than the five-year average. In spite of that, Johnson says there will be a surplus of around 500 million bushels of soybeans in the United States, which is only surpassed by last year’s surplus in the history books.

As for prices on crops, futures have set back almost $.35 per bushel since October, which isn’t great news for farmers. However, Johnson points out, that doesn’t necessarily mean net losses. “Farmers are disappointed in likelihood of the cash price, unless they did a good job of preharvest marketing. And that’s what I’ve been teaching for the last 15 years. So the farmers that did a good job of marketing these crops ahead (are) probably going to make money this year, probably good money. But then the government’s also sending them a market facilitation program payment, and that payment’s about $65 an acre in Dallas County. So I think, surprisingly, net farm income is projected to increase by about 5.5% in 2019.”

Johnson adds, competition around the world has been the primary factor in lower cash prices, but says the federal bailout money is keeping most farms afloat during this difficult period. To learn more, listen to this coming Monday’s Perry Fareway Let’s Talk Dallas County program with Johnson on air and at RaccoonValleyRadio.com.