The preliminary farm value of Indiana field crops produced in 2023 was $9.79 billion, down 16% from 2022.
According to Nathanial Warenski, state statistician of the Indiana field office of the United States Department of Agriculture’s National Agricultural Statistics Service, said the total value of Indiana production declined due to lower prices of corn and soybeans.
Some Indiana highlights from the report follow:
- Corn for grain value was down 20% to $5.07 billion in 2023. The average price was $4.70 per bushel.
- Soybean value decreased 11% to $4.28 billion in 2023. The average price was $12.80 per bushel.
- Wheat value was up 26% to $196 million. The average price was $6.35 per bushel.
Nationally:
Corn for grain value decreased 17% to $73.9 billion in 2023.
Soybean value in the U.S. was down 13% to $52.8 billion.
All U.S. wheat value was down 10% to $12.7 billion.