Ohio crop values fall 13% in `23 to $7.32B, report shows
A significant drop in the production value of key crops was reported in Ohio for the year 2023, with a 13 percent decrease to $7.32 billion, preliminary information from the USDA National Agricultural Statistics Service, Ohio Field Office shows.
This downturn was driven by lower production and reduced prices across a range of commodities, including corn, soybeans, and wheat.
The Feb. 27 report via news release details a 17 percent decline in the value of corn for grain to $3.10 billion, with an average price of $4.60 per bushel, reflecting the broader challenges in the sector.
Soybeans also saw a notable decrease, with a 15 percent drop in value to $3.46 billion and a lower average price of $12.60 per bushel.
In Ohio, The average price per bushel for wheat was reported at $6.30 for 2023, a decrease from the previous year’s $7.85, although the document did not specify the total wheat value change.
Oat values took a sharp hit, plummeting 27 percent to $4.16 million, with an average price of $3.65 per bushel.
Nationally, the trend of decreased value in agricultural production was consistent with Ohio’s experience. U.S. corn for grain value fell by 17 percent to $73.9 billion, soybean value was down 13 percent to $52.8 billion, and the all wheat value dropped 10 percent to $12.7 billion.
The data was compiled by Cheryl Turner, state statistician of the Ohio field office of the National Agricultural Statistics Service.
These figures highlight the volatility of agricultural markets and the impact on Ohio farmers.
Further details are available through the USDA NASS Great Lakes Regional Office or their website at www.nass. usda.gov.