2018 Michigan Crop Values Up 2 Percent
Michigan Ag Connection - 04/17/2019
The preliminary farm value of Michigan field crops produced in 2018 was $2.94 billion, up 2 percent from 2017. The increase was largely due to higher corn and wheat prices and increased soybean production, according to Marlo Johnson, director
of the USDA, NASS, Great Lakes Regional Office. Some Michigan highlights from the Crop Values Annual Summary report follow:
- Corn for grain value increased 1 percent to $1.05 billion in 2018. The average price was $3.55 per bushel.
- Soybean value of $941 million was up 4 percent from 2017. The average price was $8.60 per bushel.
- Wheat value increased 18 percent to $180 million. The average price was $5.05 per bushel.
- Dry bean value, $126.5 million, was down 2 percent from last year. The average price was $27.30 per cwt.
- U.S. corn for grain value increased 4 percent to $51.5 billion in 2018.
- Soybean value in the U.S. was down 5 percent to $39.1 billion.
- U.S. all wheat value increased 17 percent to $9.7 billion.