Projected Corn Prices For 2024. Usda predicts higher old crop usage, lower new crop acreage. Department of agriculture is predicting u.s.
This is weaker than seen in the decade before the. The 2024 effective reference prices are $4.01 for corn, up 31 cents, and $9.26 for soybeans, up 86 cents.
With A Projected 2024 Average Yield Of 180 Bushels Per Acre (Trend Line Estimate), Planted Acres Could Decline From About 95 Million In 2023 To Just Over 87.
Figure 1 illustrates the trends in.
The Bank’s Baseline Forecast, However, Is For Overall Food Prices To Decline Somewhat—By 6% In 2024 And 4% In 2025.
Yields of 177.7 bushels per acre corn and 52.4 bpa soybeans, costs per bushel translate to $4.89 for corn and $11.73 for soybeans.
The january 2024 feed outlook report contains estimates for 2022/23 and projections for 2023/24 u.s.
The 2024 Effective Reference Prices Are $4.01 For Corn, Up 31 Cents, And $9.26 For Soybeans, Up 86 Cents.
Following a bumper 2023 harvest that outpaced demand, prices for corn and soybeans planted this spring are expected to drop for the second year running.