After the disastrous 2012 season, this year’s corn crop is on track to break a number of records, netting farmers a major profit and boosting US exports.
While many farmers had hoped to plant and harvest the largest corn crop since the 1930s in 2012, a severe and sudden drought shattered these hopes. For most of the summer, farmers across the country suffered from record-low rainfall and record-high temperatures, a combination that scorched crops and dried up fields.
Many farmers might have found themselves in a serious financial predicament had it not been for generous federal crop insurance programs.
Hoping to make up for a lost summer, farmers planted another record crop this season, banking on the hope that there would not be another arid summer.
As a result, US farmers are expected to harvest a record-breaking corn crop this season. According to US Department of Agriculture estimates, corn farmers are expected to harvest more than 1.887 billion bushels in 2013-2014, an increase of more than 130 percent from 2012-2013.
“U.S. and global corn stocks are projected to rebuild to levels not seen in several years,” said Farm Bureau economist Todd Davis.
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Written by: Justin Ellison / Farm Plus Staff Writer