Bumper corn crop predicted
July 14, 2012 by James
Corn farmers in the Minneapolis areas are grinning from ear to ear.
The U.S. department of Agriculture says early predictions are that Minnesota farmers will be harvesting America’s finest corn crops this year. According to their statistics, 82% of the corn currently planned in the state was rated in very good condition, compared to 48% of other corn crops in the U.S.
On the Chicago Stock Exchange, corn futures were up in early July, with the contract come September expected to rise by at least 3%, making it approximately 22 cents a bushel. Grain prices have risen 30 per cent this summer, giving Minnesota farmers more to smile about.
Success in the agricultural sector surrounding the Twin Cities can only bode well for business in Minneapolis, including print companies, who tend to experience an increased demand for printing services in areas of economic growth.
A record number of acres were planted with corn in Minnesota. Reports put corn plants growing in the Twin Cities area standing at approximately as high as an adult chest or even over the shoulder, much higher than the farmer’s rule of thumb that corn should be knee-high by the Fourth of July. Therefore, three positive factors are at play: a high acreage, excellent pricing, and a potential high yield.
Dave Nicolai, a professor in agriculture at University of Minnesota and a corn specialist, said earlier this month:
“The good news right now is that the crop in Minnesota looks very good.”
Corn is historically harvested in August.