Nebraska 2017 Crop Value Forecast at $9.52 Billion

Corn and soybean fields
Corn and soybean fields

Nebraska 2017 Crop Value Forecast at $9.52 Billion February 27, 2018

The value of Nebraska’s 2017 field and miscellaneous crops is forecast at $9.52 billion, according to the USDA’s National Agricultural Statistics Service. This is up 1% from 2016.

The value of corn production is expected to total $5.55 billion, down 2% from the previous marketing year. The 2016 value of production was $5,643,668 billion and the 2015 value was $6,043,118 billion. Nebraska’s corn price is projected to average $3.30 per bushel, down $0.02 from the last marketing year.

Nationally, the average price for corn was $3.30 in 2017, down from $3.36 in 2016 and $3.61 in 2015.

The value of soybean production is expected to total $2.95 billion, up 2% from the previous marketing year. The 2016 value was $2,883,897 billion while the 2015 value was $2,647,016 billion. Nebraska’s soybean price is projected to average $9.05 per bushel, down $0.13 from the last marketing year. The average price in Nebraska for 2016 was $9.18 and in 2015 it was $8.66.

Nationally, the average price of soybean was projected to be $9.30 in 2017, down from $9.47 in 2016, but up from $8.95 in 2015.

The value of winter wheat production in Nebraska in 2017 was estimated at $185,334,000, down from $222,124,000 in 2016 and $204,611,000 in 2015. Price per bushel was estimated at $3.95 in 2017, up from $3.14 in 2016, but down from $4.45 in 2015.

Nationally, the average price per bushel for winter wheat was $4.20 in 2017, up from $3.57 in 2016, but down from $4.80 in 2015.

For more reports see the national release at: http://usda.mannlib.cornell.edu/usda/nass/CropValuSu//2010s/2018/CropValuSu-02-23-2018.pdf.