Ohio’s corn yield is expected to exceed last year’s harvest, but the state’s soybean yield is predicted to be flat, according to The Columbus Dispatch.
The highest yields of soybeans are expected in Indiana, Illinois and Iowa. Ohio soybeans will still bring in a profit since the production costs aren’t high, but a loss is expected for corn sales this fall since production costs were above the futures’ prices. Overall, agriculture won’t have much impact on Ohio’s economy.
From The Columbus Dispatch:
“Fewer dollars in the pockets of farmers will mean less spending in a number of areas that support agriculture. It’s a predicament that will carry into 2015. Because prices already have fallen, they probably will stay low through 2015 and might drop further if farmers bring in another bumper crop next year.”