Des Moines, Iowa – Iowa is the nation’s top soybean producer and the state’s growers are poised for an excellent year ahead, according to predictions from the U-S Department of Agriculture. Market analyst Rachel Trego says soybeans are forecast to buck all trends expected for the rest of the major grains and oil-seeds in the 2017 growing season.
The general outlook for all grains and oil-seeds will be modestly higher prices. Iowa’s -other- top crop, corn, does not have as bright a future, according to the agency’s predictions. Trego says corn acreage, supplies, exports and stocks are all expected to fall.
While corn production in general should be down in the year ahead, exports may drop even further.
One of few bright spots on the report, the USDA projects a small increase in the season average farm prices.