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In northern Illinois, farmers could lose $140 per acre on average for corn and $30 an acre for soybeans with autumn delivery prices of $4.50 and $11.50 a bushel, respectively, the analysis showed.
Additionally, Illinois farmers harvested 10.75 million acres of soybeans in 2024, up from 10.3 million acres the year before. Kindred said the bounty may help other industries to flourish.
Dairy products and wheat are important secondary crops in specific segments of the state. In addition, some Illinois farmers grow specialty crops such as popcorn and pumpkins. The state is the largest producer of pumpkins among the U.S. states. [13] There is a large watermelon growing area centered on Lincoln, Illinois. Illinois wine is a ...
The US imports more than 80% of its avocados from Mexico at $3.1 billion, according to the US Agriculture Department, with the price of guacamole expected to shoot up by Super Bowl Sunday.
The soybean checkoff is a congressionally-mandated assessment on soybeans, whose proceeds are used to fund soybean research and promotion efforts. The checkoff is managed by the United Soybean Board under the supervision of the United States Department of Agriculture Agricultural Marketing Service. In 2014, the checkoff was $109.1 million. [1]
Between 1930 and 1942, the United States' share of world soybean production skyrocketed from 3 percent to 46.5 percent, largely as a result of increase in the Midwest, and by 1969, it had risen to 76 percent. [161] Iowa and Illinois rank first and second in the nation in soybean production.
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Trump promised on the campaign trail to lower prices. The surge in inflation expectations added to labor market strength in reinforcing the message from the Federal Reserve about fewer interest ...