U.S. farmers grew $192.8 billion worth of the major field and specialty crops, from corn to chickpeas, last year, down 9 percent from 2013 due to lower commodity prices, according to the annual Crop Values report. The national total was down by 14 percent from 2012, the peak year for prices of crops such as corn, wheat and soybeans. The average corn price of $6.89 a bushel in 2012 dropped to an estimated $3.65 a bushel for the 2014 crop, so the value of the corn crop fell by 30 percent. The report is based on the USDA’s estimates of season-average prices and production.
California, as usual, was the top agricultural state, with $33 billion in crops, little changed from 2013 despite continued drought. Illinois was second at $16.6 billion and Iowa was third at $15.75, followed by Nebraska at $11.8 billion and Minnesota at $11.4 billion.